Ahead of iPhone 12 Launch, 'Galaxy Z Flip Craze'..."Boarding at 90,000 Won"

Selling from 90,000 KRW at Online and Offline Stores
Price Cut and Subsidies Trigger 'Z Flip Craze'
Galaxy Note20, Which Caused Chuseok Frenzy, Now at 150,000 KRW
Broadcasting Commission Warns "Beware of False Ads Claiming Galaxy Note20 for 60,000 KRW"

Samsung Electronics launched a new Mirror Gold model on the 6th to continue the popularity of the Galaxy Z Flip. Mirror Gold was first revealed at the Galaxy Unpacked event held in San Francisco, USA, last February but was not sold domestically. After being released only in certain countries such as China, India, and Singapore, it was introduced in Korea for the first time this time. The photo shows the Galaxy Z Flip Mirror Gold model displayed at KT Square in Gwanghwamun, Seoul on the day. Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Han Jinju] "I waited for the Galaxy Z Flip frenzy and got it for 90,000 won."

Samsung Electronics lowered the launch price of its foldable smartphone and significantly increased flagship subsidies around the release of the iPhone 12. The atmosphere is heating up with the 'Galaxy Note20' frenzy starting from Chuseok and now joined by the 'Galaxy Z Flip.'

According to industry sources on the 17th, posts claiming to have purchased the Galaxy Z Flip for around 100,000 won are being uploaded continuously on online communities. With subsidies applied, the actual purchase price has dropped to between 90,000 and 150,000 won, according to increasing posts. Reviews posted on the 16th said it was sold for around 190,000 won, and on the 17th, prices dropped below 100,000 won. Users said, "I was going to buy the Galaxy Note20, but since the Z Flip was selling at a similar price, I bought the Flip."

The day before, Samsung Electronics and the three mobile carriers lowered the launch price of the Galaxy Z Flip LTE model to 1,188,000 won. It was launched in February at 1.65 million won, lowered to 1,342,000 won in early September, and then further reduced by 150,000 won. The Galaxy Z Flip’s price has dropped by 462,000 won compared to its initial launch price, making it cheaper than the Galaxy Note20 or Galaxy S20. This is interpreted as a strategy to defend market share following the iPhone 12 unveiling event on the 14th and to clear inventory by lowering prices.

At stores known as sanctuaries both online and offline, the Galaxy Note20 is being sold for 150,000 to 170,000 won. When purchasing with the official carrier subsidy and assuming an 80,000 won monthly plan, the normal purchase price for the Galaxy Note20 is around 640,000 won. So-called 'sanctuary' retailers often offer illegal subsidies higher than the official ones but require customers to subscribe to high-priced plans?over 80,000 won for 5G plans and around 69,000 won for LTE plans?along with additional services.

Earlier, on the Chuseok holiday of the previous month on the 30th, Samsung Electronics and the carriers doubled the official subsidy for the Galaxy Note20 to a maximum of 500,000 won. LG Uplus raised the official subsidy for the two Galaxy Note20 models to between 326,000 and 500,000 won, KT to 300,000 to 500,000 won, and SK Telecom to 345,000 to 480,000 won. Compared to the highest official subsidy amounts set at launch on August 7, which ranged from 170,000 to 240,000 won depending on the carrier, this is an increase of over 300,000 won.

Meanwhile, the Korea Communications Commission warned that false and exaggerated online advertisements claiming to sell recently released 5G premium phones, including the Galaxy Note20, for 65,000 won (based on an 89,000 won plan) are rampant, urging users to be cautious. In particular, many cases fail to properly inform customers about the condition of returning the phone after 24 months of use, misleading them with low prices, so it is essential to verify the details.

This is because many sales contracts for the Galaxy Note20 (launch price 1.19 million won) are made with a 48-month installment plan, with the condition of returning the used phone after 24 months. Some sellers advertise as if they are discounting the phone price by applying the 24-month installment balance (600,000 won) and 25% selective discount on the plan fee (540,000 won) as a discount on the phone price under the condition of device return. However, users must pay the phone installments for 48 months, maintain an expensive plan, and subscribe to the used phone compensation program, so they are not actually purchasing the device for 65,000 won. Explaining or advertising the plan discount as a subsidy and causing misunderstanding about the device purchase cost violates the Device Distribution Act.

This content was produced with the assistance of AI translation services.