Samsung could once again be possibly following the footsteps of its archrival Apple. A report has surfaced saying the Galaxy-maker may be planning to throw in its own phone upgrade program alongside the unveiling of the forthcoming Galaxy S7 family of smartphones.

While not much is known at the moment, as details are still scarce, a report from the Electronic Times in South Korea, claims that the program will likely be similar to the iPhone upgrade program which the Cupertino-based firm unveiled last year with its latest iPhones.

The report suggests that this program is slated to kick off in March, coinciding with the launching of its Galaxy S7 devices.

If true, customers will then be able to finance their purchase with installment payments on a monthly basis. On top of that, the program will make it possible for customers to upgrade their device every single year, to ensure that they're in rhythm with Samsung flagship launches annually.

Before anyone gets their hopes up, it is worth mentioning that the phone upgrade program is believed to initially be made available in South Korea, Samsung’s homeland. On the bright side, word has it that it will be rolled out in the U.S. and other markets sooner or later.

When Apple announced its program last year, it made it possible for consumers to get their hands on an iPhone 6s starting at $32.41 each month. Customers will then swap their device for a new iPhone yearly, as soon as Apple launches new models.

In the meantime, the rumored release of at least three hotly anticipated Galaxy S7 smartphones, which include a regular S7, an S7 edge plus an S7 edge+, has unquestionably dominated tons of headlines. Rumor has it that these Galaxy S7 phones could be water-resistant. Moreover, these phones are also believed to arrive fitted with 4 GB of RAM, humongous batteries (as compared with their predecessors), microSD card support and more.

At least one source claims one of these phones could come out on March 11 in the U.S. At any rate, there happens to be a big chance that these phones will likely sweep up the market the moment they hit store shelves.

As always in cases like this, given that Samsung has yet to push out its official word regarding the matter, absolutely nothing is official yet. As such, it is prudent to take this story with the requisite dose of skepticism.