Samsung has grudgingly started a way for people to have another phone if they already have a Samsung Galaxy Note 7 phone, now that they have totally given up on the flagship phone. It is offering, according to this Engadget link, a $100 credit to exchange your Samsung Galaxy Note 7 phone for a Galaxy S7 Edge. That is, if you buy a Galaxy S7 Edge and also return your existing Samsung Galaxy Note 7, you will have to pay $100 less.
On the other hand, if you go for any other phone from Apple, HTC or LG (among others) you will get a $25 credit. That is, if you want Samsung to give you a phone model from another company, and if you return your Samsung Galaxy Note 7 phone, you will be paying $25 less.
Some carriers in the US are also offering their own packages to replace or refund for the doomed phone.
But if you go for a refund for your Samsung Galaxy Note 7 phone you should be able to get the entire amount of $700 or more. In India it’s over Rs. 60,000.
It would be better to go for a refund because then you will get your money back and you can buy any phone you feel like instead of Samsung deciding how much discount you should get according to which phone you choose for replacement. Inconvenience has already been caused. Many people have already not been able to use their phone for quite a while. So it’s better to get the refund and purchase a different smartphone rather than getting a replacement and a discount.