Samsung’s long-awaited Galaxy Note 7 refurbishment project is nearly upon us – and we’ve now heard a rumour on pricing.

Last year, Samsung was forced to recall the Galaxy Note 7 after some units started exploding. Soon after, the tech giant announced plans to eventually sell refurbished versions of the phone at discounted prices. According to local Korean news outlet The Investor, that’s going to happen as early as this month or next.

But the report goes on to suggest that the refurbished handset pricing will be about 50% cheaper than the discontinued Note 7. In the UK, the Galaxy Note 7 launched at £749, so that would put the refurb pricing at around £375. Assuming the phone doesn’t explode anymore, that seems like a real steal.

When we originally reviewed the Galaxy Note 7, we gave it a respectable 4.5/5 score, praising the handset’s glorious screen, great camera, fun S-Pen stylus, water-resistant body, and excellent battery life. Our verdict was: “Fantastic in pretty much every way, but all that tech comes at a steep price.”

If the Galaxy Note 7 refurbs do price at below £400, they could provide a seriously compelling alternative to the new Samsung Galaxy S8 and Samsung Galaxy S8+, which currently cost £689 and £779 in the UK respectively.

Unfortunately, Samsung hasn’t actually confirmed any official pricing details for refurbished Galaxy Note 7 models, nor have we heard about a proper release schedule yet. Until then, we recommend taking such leaks with due caution.

Related: Best Android phones

Would you be interesting in buying a refurbished Galaxy Note 7? Let us know in the comments.

Deputy News & Features Editor Writer.