I've not seen anything official posted yet, but multiple news outlets are reporting that you can replace them. Here's one:
"Samsung is in the process of investigating the incident and is working with the authorities. When there is an update, we will make it available. Any Verizon customer concerned about the safety of their replacement Note7 smartphone may take it back to the original point of purchase to exchange it for another smartphone beginning Saturday, October 8. Verizon online customers may also exchange their replacement Note7 smartphones at Verizon stores beginning Saturday, October 8."
To be safe, charge it a ways away from you, kids, and animals. Check it off and on for any effects then, you will have a better idea of phone.
Will the return period (conveniently) overlap with the release of LG's V20? The New Note7 seems to be experiencing various difficulties in the field. I do not believe that Samsung has gotten ahead of the situation as yet. Perhaps we'll know more by the end of this week.
Here is Verizon's statement :
In response to your second question, you're able to return your Note 7 to any Verizon Wireless corporate store at this time, whether it is the original or the replacement if you need to return of exchange it, even for a new device. You can find your nearest Verizon Wireless retail location here: Verizon Stores Near Me | Verizon Wireless .
I found it on this thread
Hope that helps you
I like my note 7 a lot. But these issues are making me wanna just call it quits and get the iphone 7 plus. Came from the 6 plus and really liked the note 7's smaller size despite it's larger screen.
It is Verizon's priority to make sure our customers feel safe with their current device. At this time there is not a recall on the device. Samsung is actively working with the Consumer Product Safety Commission. However, we want you to feel comfortable with your device. You do have the ability to return/exchange your device for another device. Even if you are outside of the 14 day return/exchange policy. There will be no restocking fee with the return. If you would like to take advantage of this you may return the device to the original point of purchase. We will keep our customers up to date on any changes there may be around the device.
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