Samsung is reportedly gearing up to launch a refurbished smartphone program, selling used versions of its high-end flagships at a lower price point.

Top-notch flagships come with impressive specs and features all around, but they also come with a price to match. Advanced technology doesn't come cheap and Samsung Galaxy flagships can cost a small fortune, but the purported refurbished program could make the devices more accessible.

The news comes from Reuters, which cites an unnamed source "with direct knowledge of the matter."

When customers who signed up for one-year upgrade programs in markets such as the United States and South Korea return their smartphones, Samsung will reportedly refurbish and re-sell them. The used handsets should be considerably cheaper than brand-new flagships, but there's no word yet on just how big the discount will be.

As Reuters points out, this move will follow Samsung's efforts to restructure its product portfolio, as the company is looking for new ways to sustain its earnings momentum although the global smartphone market is plateauing. According to the report, Samsung is looking to keep its operating margins beyond 10 percent and maximize cost efficiency through this upcoming refurbished smartphone program.

It remains to be seen which countries will benefit from this scheme, but Samsung could see notable success with a refurbished smartphone program in emerging markets such as India, where most customers can't afford top flagships that cost roughly $800. Having cheaper, refurbished flagships on sale could substantially boost Samsung's sales in such markets and worldwide, for that matter.

Apple, for instance, has already been selling refurbished iPhones for a good while now in various markets including the United States, albeit it never disclosed just how successful its program is in terms of sales.

Samsung has yet to comment on the matter or issue an official announcement, so it's tough to tell at this point just what this refurbishing will entail. Overall, refurbished devices are given new batteries or casings, so that will likely apply in Samsung's case as well.

With no official word from the company, it's all still in the rumor stage at this point, but a refurbished Samsung Galaxy smartphone program does make sense and it could significantly boost the company's success. As always, we'll keep you in the loop as soon as more details hit the surface, but it's best to take all rumors and reports with a grain of salt for now.

Would you be interested in a refurbished Samsung Galaxy flagship? Drop by our comment section below and share your thoughts on the matter.

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