Neglect Theory in Korea and High Release Price
Still Gaining Popularity Like Previous Model
Pre-orders for Pro and Pro Max Begin
Sold Out on Coupang and Three Major Telecoms
Dynamic Island Applied
Increased Interest in Premium Line
[Asia Economy Reporter Cha Min-young] Despite concerns about neglect in Korea and high prices, Apple's iPhone 14 series enjoyed higher popularity than its predecessor, leading to early sell-out incidents. Unlike the general and Plus models, which received cold reviews for "lack of innovation," the premium Pro and Pro Max lines experienced "sold-out" situations.
iPhone 14 Pro and Pro Max Pre-orders Begin with Temporary Sell-outs
According to industry sources on the 30th, the most popular models in the iPhone 14 series pre-orders, which started at midnight, were the iPhone 14 Pro and Pro Max models. Based on unlocked models sold on Coupang, all colors and storage capacities from 125GB to 1TB of the Pro and Pro Max models were temporarily sold out by the morning. For the Plus model, only the Red and Blue colors were temporarily sold out, while the standard model still had stock available in all colors.
Coupang, which has emerged as a popular site for purchasing unlocked models, once again promoted card discounts and Rocket Delivery benefits this year. It offers a 10% instant discount for Wow members using designated credit cards and provides interest-free installments for up to 22 months on purchases over 1 million KRW. Additionally, a 150,000 KRW cashback is given upon issuing a new card. The support for Rocket Delivery, a dawn delivery service, is seen as an advantage for early adopters. Other online platforms such as SSG.com, 11st, and Gmarket also saw intense competition.
Similar trends were observed on the online malls of the three major telecom carriers. On SK Telecom's T Direct Shop, the Space Black and Silver colors of the Pro and Pro Max models are currently in their third round of pre-order sales. Gold and Deep Purple colors have entered the second round of pre-orders. Meanwhile, the standard and Plus models remain in the first round of pre-orders. An SK Telecom representative stated, "Compared to the previous iPhone 13 series, overall pre-order responses are good, and the popularity of the Pro and Pro Max models is the highest among all series. Despite the price increase, larger capacity models of 256GB or more are more popular."
Similar results were seen on LG Uplus's online shop. The live broadcast "Uplus LIVE," which started at midnight, achieved its initial event goal of 50,000 viewers. Targeting the MZ generation (Millennials + Gen Z), LG Uplus has continuously hosted live broadcasts and invited IT YouTuber MR MR for the first show. An LG Uplus representative said, "Based on early pre-order trends, the Pro models, especially in Deep Purple and Space Black colors, are highly popular."
Prices Increased Due to Exchange Rates, but Further Exchange Rate Rise Made Them Cheaper
Initially, the Apple iPhone 14 series was expected to perform relatively poorly due to high prices and concerns about neglect in Korea. The domestic retail prices start at 1.25 million KRW for the base iPhone 14, 1.35 million KRW for the Plus, 1.55 million KRW for the Pro, and 1.75 million KRW for the Pro Max. These represent increases of 160,000 to 260,000 KRW compared to the previous iPhone 13 series, with price hikes of about 14.7% to 17.4%, except for the Plus model. Despite strong domestic loyalty to Apple, the confirmed Korean release date of October 7, categorized as a "third wave release country," led to some anti-Apple sentiment. The standard and Plus models were also criticized for "lack of innovation" due to no specification differences from the iPhone 13 series.
However, a turnaround followed. As the KRW-USD exchange rate continued to rise, closing at 1,438.9 KRW on September 29, Korea became "the country with the cheapest iPhone prices worldwide." The perception that buying from overseas direct purchase sites was disadvantageous spread. Interest also increased in the premium line featuring the "Dynamic Island," a software innovation replacing the so-called "M-shaped hair loss" notch design. Loyal Apple customers shared so-called "tips" for successful pre-orders even before midnight, raising expectations. A netizen from a major IT community advised, "Joining information chat rooms like open KakaoTalk rooms is essential," adding, "You should also subscribe to Coupang Rocket Wow and set up pre-order links to avoid missing out."
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