Galaxy Z Flip Launch Day... 'Sold Out in 30 Minutes' Selling Frenzy (Comprehensive)

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Seulgina Jo] "It showed out of stock during payment. Should I go to the store?" "I barely bought it after rapid repeated attempts. The more I see it, the prettier it is."

Samsung Electronics' foldable phone 'Galaxy Z Flip,' featuring a unique design that fits perfectly in one hand, has been selling out continuously since its domestic release on the 14th. The initial stock released through LG Uplus's online mall sold out in just 30 minutes.

According to the industry, Samsung Electronics and the three major mobile carriers started online and offline sales of the Galaxy Z Flip around 9 a.m. that day. Unlocked units are also being sold through online channels such as Coupang. On major domestic online sites, purchase confirmations such as "I barely bought it after rapid repeated attempts" and "Unlocked units sold out quickly" are starting to appear. One netizen even stomped their feet, saying, "It showed out of stock during payment on Coupang."

Some sites recorded sellouts from the morning. LG Uplus's official online mall, 'U+Shop,' began selling the Galaxy Z Flip at 8:50 a.m., and the initial stock sold out in just 30 minutes, prompting them to currently accept second-round pre-order applications. An LG Uplus official said, "Online sales are doing better than offline," and added, "Activation for customers who applied after the sellout will proceed sequentially after securing the second batch of stock."

Although it cannot be compared to flagship smartphones, considering that nearly ten times more units were released compared to last year's foldable predecessor, the 'Galaxy Fold,' there is growing anticipation for a 'big hit.' The telecommunications industry expects about 20,000 units to be released domestically during the first week. However, some voices suggest that sales trends should be monitored further given the limited quantity.

The Galaxy Z Flip is a clamshell-type smartphone that folds vertically, with a retail price of 1.65 million KRW. The main battleground is expected to be the 'female consumer targeting' strategy, emphasizing design. A woman in her 30s considering a purchase said, "I was thinking about buying the S20 but decided on the Z Flip," explaining, "Design differentiation and emotional aspects are as important as specs."

The official subsidies for the Galaxy Z Flip announced by the three carriers that day are up to about 210,000 KRW. Based on the 69,000 KRW monthly plan most chosen by LTE subscribers, SK Telecom offers 135,000 KRW, KT offers 140,000 KRW, and LG Uplus offers 138,000 KRW. For consumers, the 25% selection discount on monthly fees is more advantageous.