Unfortunately, you do not have a right to an exchange. The manufacturer has the right to try to repair it 3 times in germany.
I personally do not like that, especially if you have a new toy, you just dont want to wait. So we try to simply exchange the device, if it is quite obvious, that the error is not related to a mishandled device.
Other than that, you can return your online ordered device within a period of 14 days (in germany at least).
@Ortep: Well, i will definately not have the devies by next week

I wish though.