Following today's announcement of a worldwide recall of the Galaxy Note 7 smartphone, Samsung has issued an official statement on how it will exchange devices for customers in the US. The US carriers have already halted sales and offered ways for customers who have already purchased the device to get refunds. Now Samsung has announced its own exchange program, which will provide customers with a new device as soon as next week.

Note 7 customers taking advantage of Samsung's exchange program will have two options, as detailed by Samsung's press release:

1. Exchange current Galaxy Note7 device with a new Galaxy Note7 (as early as next week) 2. Exchange current Galaxy Note7 for a Galaxy S7 or Galaxy S7 edge and replacement of any Note7 specific accessories with a refund of the price difference between devices.

Customers are directed to either visit the retail store where they purchased their phones or to call 1-800-SAMSUNG to exchange the device through the mail. In addition, affected customers will receive a $25 credit on their phone bill or a $25 gift card for their troubles. Samsung did not say when the Note 7 will be available for general purchase.

The recall of the Note 7 is a blemish on Samsung's so far very successful 2016, and certainly takes some momentum away from the company at a time when it needs it the most. Apple, Samsung's largest competitor, will be announcing a new iPhone next week, and it will likely be available for purchase shortly afterwards. If Samsung isn't able to get the Note 7 back on shelves quickly, it could lose a lot of sales to Apple's new iPhone. We found the Note 7 to be a very compelling device in our review, but whether or not customers will trust the device given the recall remains to be seen.

Samsung Galaxy Note 7 review