"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 programme, which will provide customers with a new device as soon as next week," the Verge reported on Saturday.

According to Samsung's exchange programme, customers can either exchange current Galaxy Note 7 device with a new Galaxy Note 7 as early as next week or they can exchange current Galaxy Note 7 for a Galaxy S7 or S7 Edge and replacement of any Note 7 specific accessories with a refund of the price difference between devices.

"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 report added.

The global recall was a setback for Samsung and somewhat happy news for Apple as it prepared to launch iPhone 7 (on September 7), experts said. After just two weeks on sale and 35 faulty phone batteries reported so far, Samsung on Friday issued a global recall of Note 7 and promised to replace every unit already sold.

"To date (as of September 1) there have been 35 cases that have been reported globally and we are currently conducting a thorough inspection with our suppliers to identify possible affected batteries in the market," the company had said in a statement. According to experts, this is bad news especially at a time when Samsung had the momentum going in its favour.

"Market sentiments are not with Apple at the moment and Samsung had to have a good run in months to come, buoyed by its super-successful S7 and S7 Edge devices and now Note 7. The global recall news is a godsend for Apple which is prepared to unveil another flagship device iPhone 7 on September 7," Tarun Pathak, Senior Analyst, Mobile Devices and Ecosystems, Counterpoint Research in New Delhi, told IANS.

Giving a refreshing look to its Note series, the South Korean giant last month launched its Galaxy Note 7 in India for Rs 59,900 with iris biometric scanner for enhanced security, upgraded S Pen and a dual-curved screen.