LG Uplus Sells Out Galaxy Z Flip on Online Mall in 30 Minutes

Maximum Public Subsidy of 175,000 KRW
Online Sales Booming Amid COVID-19 Spread
Compensation Up to 1.9 Million KRW...Exclusive Insurance Launches on the 20th

[Asia Economy Reporter Koo Chae-eun] LG Uplus announced on the 14th that the initial stock of Samsung Electronics' foldable smartphone Galaxy Z Flip was sold out within 30 minutes on its official online mall, ‘U+Shop’.

At U+Shop, sales of the Galaxy Z Flip started at 8:50 AM, and even after the initial stock was sold out, second-round pre-orders are currently being accepted. Customers who apply for subscription after the sell-out will have their activation processed sequentially after securing the second batch of stock.

The active online sales of premium smartphones are interpreted as a result of an increase in customers using online malls instead of visiting offline stores due to the impact of COVID-19. In fact, survey results showed that the number of customers accessing U+Shop increased by about 10% starting from the 25th of last month, when COVID-19 began to spread in earnest.

The Galaxy Z Flip is a clamshell-type smartphone that folds vertically and is Samsung Electronics' second foldable smartphone following the Galaxy Fold. It comes in two colors, ‘Mirror Purple’ and ‘Mirror Black’, with a retail price of 1.65 million KRW, and is available for purchase at LG Uplus stores nationwide and the official online mall.

The official subsidy is 175,000 KRW when subscribing to the ‘Data 105 with no speed or capacity worries’ plan, and 138,000 KRW for the ‘Data 69 with no additional fee worries’ plan. LG Uplus will launch a new mobile phone loss/damage insurance product on Thursday, the 20th of this month, for customers purchasing the Galaxy Z Flip.

The newly introduced ‘Fold Loss/Damage 190’ insurance compensates up to 1.9 million KRW by paying a 20% deductible of the loss or damage amount, with a monthly premium of 7,700 KRW, which is the lowest in the industry relative to the compensation limit.

Additionally, LG Uplus, in collaboration with Samsung Electronics, is conducting an event offering various gifts to customers who purchase the Galaxy Z Flip. Customers who newly subscribe to the Galaxy Z Flip by February 29 will receive a clutch bag and a pouch, and those who subscribe by the end of March will be given a coupon to purchase the wireless earphones Galaxy Buds Plus, worth 179,300 KRW, for 99,000 KRW. Also, customers who newly subscribe to the Galaxy Z Flip by February 28 will receive a 4-month YouTube Premium service voucher.

Customers who purchase the Galaxy Z Flip and subscribe to the Samsung Members Z Premier service can also receive the ‘Dedicated Agent AS Visit’ service, which allows on-site inspection and repair by a dedicated staff member at the customer's preferred time and place.

Furthermore, customers subscribing through U+Shop will receive various gifts such as wireless charging pads, car chargers, and portable batteries. Kim Nam-soo, Head of Digital Business at LG Uplus (Executive Director), stated, “As the proportion of customers subscribing online is gradually increasing, we will discover online channel-specialized benefits for customers subscribing to premium smartphones like the Galaxy Z Flip.”