Samsung To Shadow Apple With Carrier-Dodging Galaxy Smartphone Leasing Program

If you don't want to negotiate an iPhone deal with your wireless carrier, you can join Apple's recently launched iPhone Upgrade Program and get a new handset every year starting at $32.41 per month (that includes AppleCare+ coverage). Likewise, Samsung is planning to offer a similar program for its Galaxy devices.

Citing an "industry executive with knowledge of Samsung's plans," Forbes reports that Samsung's new leasing program might launch within the next several months, or sooner if Samsung decides to accelerate the program to market.

Samsung Galaxy S6 Edge Plus

It wasn't that long ago when upgrading a smartphone meant deciding between a two-year contract in exchange for a subsidized discount or paying the full retail price to be free of contractual obligations. Nowadays the major wireless carriers are embracing leasing options. By moving away from subsidies, sales for top-end devices like the iPhone and Galaxy S6 Series could be in jeopardy, so Apple and soon Samsung are taking matters into their own hands.

In reality, these leasing programs aren't all that different from two-year service agreements. They essentially break up the retail cost of handsets into 24-montly chunks. If you sign up for one at a wireless carrier and decide to abandon service for whatever reason, the remaining balance on the leased device is due immediately.

Alternately, promotions like Sprint's iPhone Forever program offer leased iPhone models at a reduced cost. At the end of the term, you either have to give the iPhone back to Sprint or pay a lump sum to take ownership.

It's not yet known what kind of pricing structure or exact terms Samsung will attach to its Galaxy leasing program.