Samsung has started a program for Galaxy smartphone owners that lets them upgrade to the latest device after 12 months, according to a recent report.
Participants who lease a Galaxy smartphone over 24 months can get an upgrade after 12 months, at which point their monthly payment schedule is extended.
Reuters reports the program is currently available in Samsung’s home country of South Korea. Last week, Android Central reported the program was live in the U.K.
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The program is currently unavailable in the U.S. Fortune has asked Samsung (SSNLF) to comment on any future expansion, and we’ll update this post if we get a response.
The program’s launch coincides with the release of the Galaxy S7 and S7 Edge. Both devices make their U.S. debut in the U.S. on Friday.
So far, reviews of the device have been extremely positive, confirmed by my experience during a test over a weekend. Fortune will be publishing a full review in the near future.
The Galaxy S7 and S7 Edge combine a refined exterior design with subtle curves and polished materials along with the latest version of the Android Marshmallow operating system. There is also a nod to two features that once made Samsung’s phones so attractive: waterproof design and expandable storage.
For more on Samsung watch our video.
Samsung’s upgrade program should sound familiar: It’s the same approach wireless carriers have adopted when selling smartphones. It does away with the subsidized model that was once prevalent across the wireless industry.
Additionally, Apple (AAPL) unveiled its own iPhone upgrade program in September with the launch of the iPhone 6S and 6S Plus. Apple’s program works similarly, with customers leasing the phone by paying 24 monthly installments. After 12 months, users can return their devices to upgrade to the latest iPhone.
Samsung has seen increased competition from Apple as more Android users switch to iOS and an increased rivalry with Chinese companies like Huawei on the lower end of the smartphone market. Upgrade programs are attractive to companies because they lock customers in. For users, it’s an easy path for users to upgrade as new technology becomes available.
