"Galaxy S23 to Launch in February"… Flip3 at 200,000 Won, Fold3 in 1 Million Won Range

Galaxy S23 Expected to Launch on February 1, Carrier Subsidies Increased
Speeding Up Inventory Clearance

Samsung Electronics unveiled the foldable smartphones 'Galaxy Z Fold3' and 'Galaxy Z Flip3' at 'Galaxy Unpacked 2021'. On the 12th, customers visiting the Samsung Delight Shop in Seocho-gu, Seoul, are seen exploring the new products. The newly released products will be available for pre-order in Korea from the 17th to the 23rd and are scheduled for sequential global release on the 27th. Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Oh Su-yeon] Following KT, SK Telecom has increased the official subsidies for the Galaxy Z Fold and Flip3 and lowered their retail prices. With the Galaxy S23 set to be unveiled in February next year, telecom companies are accelerating efforts to clear out old device inventory.

According to industry sources on the 23rd, SK Telecom recently expanded the official subsidies for the Fold and Flip3 up to 750,000 KRW. This comes about seven months after the subsidy increase in May. When using the 5GX Platinum plan priced at 125,000 KRW per month, customers can receive a maximum official subsidy of 750,000 KRW plus an additional subsidy (up to 15% of the official subsidy) of 112,500 KRW, totaling a discount of 862,500 KRW. Samsung Electronics also reduced the device retail prices. Each model was lowered by 99,000 KRW, bringing the Fold3 256GB model from 1,998,700 KRW down to 1,899,700 KRW, and the Flip3 from 1,254,000 KRW to 1,155,000 KRW. With maximum subsidies applied, the actual purchase price is 1,037,200 KRW for the Fold3 and 292,500 KRW for the Flip3.

KT raised the official subsidies and lowered the retail prices for the Fold and Flip3 ahead of SK Telecom. When using the Choice Premium plan priced at 130,000 KRW per month, the official subsidy is 800,000 KRW, and with an additional subsidy of 120,000 KRW, the total discount reaches 920,000 KRW. The actual purchase price drops to 979,700 KRW for the Fold3 256GB model and 235,000 KRW for the Flip3. LG Uplus has not yet increased official subsidies or lowered retail prices, but is expected to follow soon since SK Telecom and KT have already taken action.

The reason telecom companies have consecutively raised official subsidies and lowered retail prices appears to be to clear out remaining inventory ahead of the Galaxy S23 launch. Since the latest devices, the Fold and Flip4, released four months ago, do not significantly differentiate in performance from the Fold and Flip3, they are aiming to sell off the older models. Industry insiders expect Samsung Electronics to hold the Galaxy S23 Unpack event in early February next year and begin sales from mid-February.