Taking a leaf out of the multitude of exchange offers available for Indian smartphone buyers across sales on Amazon India, Flipkart, and other e-commerce platforms, Chinese upstart OnePlus has also jumped on the exchange bandwagon. The company has announced an upgrade program which will allow you to turn in your old smartphone for the newly-launched OnePlus 3 and get a discount of as much as 100%.

With the OnePlus 3, the Chinese smartphone maker has certainly come a long way since the launch of their first smartphone, the OnePlus One, back in 2014. Its powerful features like the massive 6GB RAM, Snapdragon 820 processor, 64GB ROM, and the quick charging ‘Dash Charge’ technology ensure that the OnePlus 3 still gets to give other more expensive flagships a run for their money.

It’s now also much easier to get your hands on the OnePlus 3 because you no longer need an invite, unlike in the case of its predecessors. After being recently launched in India, the OnePlus 3 became available for purchase exclusively on Amazon India where it currently sells for Rs 27,999 (~$420).

If paying a midrange price for a flagship device still doesn’t appeal to you, OnePlus is now sweetening the deal by offering an exchange program so that you can swap your old smartphone and upgrade to the new OnePlus 3. Starting today, you can return any old smartphone and get a discount of up to 100% of the value of OnePlus 3. The exact amount of the cashback will depend upon the condition of your old smartphone, which will be evaluated and approved by the company’s program partner, Cashify.

If you want to upgrade to the OnePlus 3 using the exchange offer, you’ll first need to visit Cashify’s webpage to check the replacement value of your old smartphone. Next, you’ll have to purchase the OnePlus 3 from Amazon India and take down the order ID. Finally, you can accept the T&C on Amazon India, after which you’ll be redirected to the Cashify page where you’ll have to input key details of your old smartphone, check your pin code serviceability, and confirm the buyback price and pickup time for your device.

A Cashify representative will then visit you at your submitted address, and pay for your old smartphone after examining the condition of the device. The upgrade offer is available in selected Indian cities of Delhi, Noida, Gurgaon, Pune, Faridabad, Bangalore, Ghaziabad, Hyderabad, Secunderabad, Mumbai, Chennai, Jaipur, Chandigarh, Kolkata, Lucknow, and Ahmedabad.

The exchange offer could be a sign that OnePlus is feeling the heat from other Chinese manufacturers in the Indian market, with budget-conscious Indian consumers warming up to smartphones from OEMs like Xiaomi, Lenovo, OPPO, Vivo, Huawei, Gionee, and LeEco. Even as Chinese smartphone companies slug it out in the Indian market by throwing in more offers and discounts, Indian consumers are obviously happy to get a bigger bang for their buck.

Do you plan to exchange your old smartphone and upgrade to the new OnePlus 3? Let us know in the comments below!