SKT Also Lowers 'Galaxy Note20' Price... 1.19 Million → 1.10 Million Won

KT, LGU+ Followed by SKT Also Lowers Galaxy Note Prices... Inventory Clearance Explanation

[Asia Economy Reporter Koo Eun-mo] As Samsung Electronics is expected to focus on foldable smartphones such as the Galaxy Z Fold3 and Galaxy Z Flip3 instead of the Galaxy Note series in the second half of this year, the prices of the Galaxy Note series continue to decline.

According to industry sources on the 14th, SK Telecom lowered the retail price of the Galaxy Note20 from the previous 1,199,000 KRW to 1,100,000 KRW on the 12th. Following KT's initial move, LG Uplus and SK Telecom also joined in adjusting the retail price, signaling the start of active inventory clearance.

The Galaxy Note20 series, consisting of two models?the standard Galaxy Note20 and the higher-end 'Galaxy Note20 Ultra'?was released in August last year, making it a lineup that has been on the market for less than a year. However, since Samsung Electronics decided not to release a Note series model in the second half of this year, manufacturers and carriers appear to be minimizing the gap in this lineup through early price adjustments.

Along with this, SK Telecom also increased the official subsidy for the Galaxy Note10 series from a maximum of 500,000 KRW to 700,000 KRW. Earlier, KT raised the official subsidy for the Note10 series to 700,000 KRW on the 7th, which, combined with additional subsidies from distribution channels (within 15% of the official subsidy), has lowered the actual purchase price of the basic Galaxy Note10 model to the 190,000 KRW range.

With Samsung Electronics announcing that it will not release a Galaxy Note series this year, the gap left by the Note series is expected to be filled by two Galaxy foldable phones and budget smartphones. According to the industry, Samsung Electronics and mobile carriers are discussing plans to launch new smartphone models such as the Galaxy S21 FE, Galaxy Z Fold3, and Galaxy Z Flip3 at the end of August.

The predecessor of the Galaxy S21 FE, the Galaxy S20 FE, was released in October last year after the Galaxy Note20 launch, but this year the release timing has been moved up by about two months. Similarly, the Galaxy Z Fold2 and Galaxy Z Flip were released in September last year but will be launched about a month earlier this year. This appears to be an effort to fill the gap left by the Galaxy Note series, which was traditionally released at the end of August each year, and to shorten the release interval with the Galaxy S21 series launched in the first half of the year.