What to do if you bought Samsung's exploding Galaxy Note 7

Last week, Samsung halted sales of its latest flagship smartphone, the Galaxy Note 7, after reports of battery explosions, and said that it will voluntarily replace every device.

"We acknowledge the inconvenience this may cause in the market but this is to ensure that Samsung continues to deliver the highest quality products to our customers," the firm said in a statement last week. "We are working closely with our partners to ensure the replacement experience is as convenient and efficient as possible."

Samsung told reporters that it had shipped 2.5 million of the devices and confirmed 35 cases where these batteries explode either during or after charging normally. The phones have a failure rate of about 24 per every million, the company said.

While only a few dozen cases have been confirmed, those who've bought the devices may be wondering: Do I really need to trade it in?

The answer is yes. Absolutely yes. Sure, it's a pain in the figurative sense. But that's so much better than pain in the literal sense - which is the risk you run if you don't go through the steps to return the phone.

Note 7 owners have a couple of options for returning their device.

Samsung is running an exchange program, which will let smartphone users swap their current Galaxy Note 7 for a new one when they become available. Samsung is also going to give customers the option to swap their Note 7 for another Samsung phone - the Galaxy S7 or Galaxy S7 edge - that have not had battery issues. The company will refund the difference in price and any accessories.

The company has also said that "consumers will receive a $25 gift card or bill credit from select carrier retail outlets when choosing a Galaxy S7 family device or the Galaxy Note 7 within the exchange program." AT&T is one of those retailers.

All four major carriers - AT&T, Verizon, Sprint and T-Mobile - have stopped selling the phones and suspended restocking and shipping fees for exchanges. T-Mobile and Verizon have said that the policy is in place until at least Sept. 30.

Each carrier has given instructions on how to exchange their phones. AT&T is letting customers trade in their Note 7s for a Galaxy S7, Galaxy S7 edge or Galaxy S7 active. When new Note 7 devices are available, AT&T will also allow users to exchange for those phones. T-Mobile said customers may use their refund money on any device, and will also let customers who pre-ordered the phone to keep additional promotional items, including a Netflix subscription and Gear Fit or SD card. Sprint is also allowing customers "a similar device until the issue is resolved," though it has not specified which devices those might be.

Samsung has not issued an official recall for the Galaxy Note 7; a decision that has earned the company sharp criticism from Consumer Reports, which said doing so would make it illegal to sell the phone and provide more information to consumers about the device's problems. Samsung did not immediately respond to a request for comment on whether it will officially recall the Note 7.