Samsung Confirms Prices For New Galaxy Phone Money-Back Scheme

This week, Samsung launched its new money-back scheme for your old Galaxy phone in partnership with Likewize. Samsung is buying back old phones from consumers with no strings attached. But are the prices actually competitive?

The launch accompanies a wider industry shift towards a circular economy model for the market. Samsung announced that the trade-in scheme reflects its ‘commitment to boosting the long-term value of Galaxy devices’.

The company wants to soften the blow of used-smartphone price depreciation while competing with Apple’s perception as a high-end brand, which higher second-hand pricing can help with.

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Currently piloting in Korea and France, the scheme is planned for further regional roll-out throughout 2025, although Samsung remains tight-lipped on when the scheme will come to other countries.

Samsung confirmed the devices it will accept on Monday and now we know how much it will pay for them.

• Galaxy S23 Ultra - €430 ($443.09)
• Galaxy S22 Ultra - €260 ($267.90)
• Galaxy S21 Ultra - €170 ($175.20)
• Galaxy S20 Ultra - €138 ($142.20)
• Galaxy Galaxy Z Fold5 - €504 ($519.40)
• Galaxy Fold4 - €450 ($463.70)
• Galaxy Fold3 - €225 ($231.90)
• Galaxy Z Flip5 - €309 ($318.40)
• Galaxy Flip4 - €185 ($190.60)
• Galaxy Flip3 - €108 ($111.30)

These prices do not match Samsung’s current trade-in pricing when buying a Galaxy S24 Ultra, which is temporarily enhanced as part of a promotion. For example, Samsung will pay $750 for the Galaxy S23 Ultra and $500 for the Galaxy S21 Ultra in its current trade-in sale.

Interestingly, the new scheme's trade-in prices do beat Samsung’s non-promotion trade-in values. For instance, the Korean company values the Galaxy S23 Ultra at $380 and the Galaxy S21 Ultra at $150 in non-sale times. But it’s worth noting that there is a bit of marketing at play here. Samsung doesn’t always offer those lower trade-in prices and they fluctuate often.

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With the caveat that converted figures from one territory to another aren’t always completely accurate, these are good prices for old Galaxy phones. Rates on eBay for the Galaxy S23 Ultra oscillate between $380 and $600. Samsung’s price lands right in the middle of that range, but it comes without selling fees and dealing with potential refunds. The test will be how close Likewize and Samsung stick to those prices depending on the condition of the device that is sent in.

There is also a huge gulf in trade-in prices between the U.S. and Europe, with American shoppers receiving far better deals than their European counterparts. The fact that Samsung is yet to announce the compensation scheme in the U.S. could mean it is still working out pricing for the American market.

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