Samsung’s new foldable phone, the Galaxy Fold, arrived to South Korea on Friday but it didn’t take long for the device to be sold out. According to reports, the high price of nearly $2,000 didn’t stop customers from looking online or visiting the country’s biggest mobile carriers to have a chance to buy one.
Pulse News reports that online marketplaces are saying that the foldable phone is now selling for much higher than its retail price. There are also reports of some attempting to sell their devices online. The Galaxy Fold is currently available in South Korea but it is expected to arrive to a few other markets later this month.
The first units released in the country were sold out in less than 30 minutes through major mobile carriers. Reports say the high demand and low supply have brought the device to re-selling websites. The foldable phone, which was announced back in February, launched in South Korea on September 6.
The launch comes months after its release date was pushed back. The Galaxy Fold initially had a release date for April 26. But that changed when reports from early reviewers started surfacing.
The early reviewers found some issues with the phone, forcing the company to delay everything. During the delay, it was rumored that the phone would come in May, June, July or August. But Samsung recently confirmed that the phone would be coming in September.
The Galaxy Fold delay went on for so long that some companies decided to cancel pre-orders. One of those was Best Buy, which explained that the delay had to do with the lack of release date.
The launch is good news for those who have been waiting for the device. But the phone’s debut has brought along one confusing move from the company. Just hours before its release in South Korea, the company confirmed that pre-orders for the phone had been cancelled.
The strange move left many without a pre-order. But tech sites explained that the pre-orders cancelled by the company were those that never gave a response. After the phone’s delay in April, the company said it would cancel all the pre-orders that did not get a response back.
According to some tech sites, the pre-orders of those who responded remained while those who didn’t give a confirmation were cancelled. The company has made a generous reward to those who had their pre-order cancelled. According to reports, Samsung has given them $250 store credit.
The Galaxy Fold is arriving to a foldable phone market that only has the presence of Royole. The company’s FlexPai phone was the first foldable phone announced and it reportedly went on sale earlier this year. Samsung’s Galaxy Fold is expected to launch in the US some time this month at a price of $1,980. But that price could be for the 4G variant. This means that the 5G version could be priced at over $2,000.
Huawei is said to be releasing its Mate X foldable phone some time soon. The Chinese tech giant delayed its foldable phone a few months back. The Mate X has the highest price out of the three at around $2,600.
Xiaomi, Oppo, Apple and a few other smartphone giants are also said to be considering the idea or are working on a foldable device already.