Ahead of Unpack... Support Fund for 4-Month-Old 'Galaxy Z Fold2' Also Increased, Up to 550,000 KRW

At 'Samsung Galaxy Unpacked 2020,' BTS made a surprise appearance via video to introduce the 'Galaxy Z Fold2.'

[Asia Economy Reporter Joselgina] Ahead of the Galaxy Unpacked event where Samsung Electronics' new smartphone will be unveiled, manufacturers and telecom companies are accelerating efforts to clear out inventory. Following the price reduction of the Galaxy S20 series at the beginning of the new year, the official subsidy for the Galaxy Z Fold2, which was released four months ago, has also jumped up to a maximum of 550,000 KRW.

According to industry sources on the 6th, SK Telecom significantly increased the official subsidy for the Galaxy Z Fold2 5G from a maximum of 170,000 KRW to 550,000 KRW as of that day. This is the first subsidy increase since the launch of the Galaxy Z Fold2, a large screen style that unfolds left and right, in September last year.

The official subsidies by plan changed from the previous 87,000 to 170,000 KRW to 250,000 to 550,000 KRW. Based on the 5GX Prime plan, which costs about 80,000 KRW per month, the subsidy was adjusted from 150,000 KRW to 500,000 KRW. Prior to this, KT and LG Uplus also raised the official subsidy for the device to a maximum of 500,000 KRW last month.

This is interpreted as a kind of inventory clearance ahead of the 'Galaxy Unpacked 2021' event scheduled for the 15th. It is a move to clear out old model inventory before the launch of new smartphones while actively attracting new 5G subscribers.

The three major telecom companies also lowered the Galaxy S20's retail price from 1,248,500 KRW to 1,144,000 KRW on January 1, the first day of the new year, a reduction of 104,500 KRW. In the case of LG Uplus, the official subsidy was also increased, lowering the actual purchase price to the 400,000 KRW range.

The retail price of the Galaxy S20+ BTS Edition was also significantly reduced to match that of the Galaxy S20. SK Telecom and KT lowered the retail price to 1,144,000 KRW, reducing it by 100,000 to 200,000 KRW respectively. LG Uplus maintained the BTS Edition's retail price at 1,248,500 KRW but increased the official subsidy to a maximum of 800,000 KRW.

The retail price and official subsidy for the Galaxy S10 5G, released two years ago, were also adjusted. SK Telecom lowered the retail price of the Galaxy S10 256GB model to 797,000 KRW and the 512GB model to 832,700 KRW. The official subsidies for both models were raised to between 423,000 KRW and 500,000 KRW.

For Samsung Electronics, this move is also seen as a response to Apple, which absorbed the waiting demand of Apple enthusiasts in an instant by unveiling its first 5G smartphone, the iPhone 12, in the second half of last year. Samsung decided to bring forward the Galaxy S21's launch by about a month, advancing the usual February Unpacked event to an earlier date this year.

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