Coin-Sized but 50,000 Won? Why Apple Accessories Sell Well Despite High Prices

Second-Generation AirTag Priced at 49,000 Won Each
Pinewoven Keyring Sells for 65,000 Won

As Apple has released the new second-generation AirTag, which can also help travelers find lost luggage, the prices of Apple accessories are drawing attention again.

The new second-generation AirTag is priced at 49,000 won per unit. It is a coin-sized, button-shaped device that is attached to items such as wallets or keys and uses communication with nearby Apple devices to determine its location. The device alone can be placed in items such as travel bags or inside shoe soles.

However, to attach an AirTag to items you want to track, such as a car key or house keys, you need a connector ring. Apple is selling the FineWoven keyring, which serves as the AirTag case, for 65,000 won. A staff member at an Apple Store said, "A keyring is not absolutely necessary, but many people buy it to attach to wallets or keys that they often lose."

Accessory corner at the Apple Store located in Seoul. Photo by Eunseo Lee.

Not only AirTags but Apple accessories in general are positioned in a relatively high price range. The Apple Watch strap "Braided Solo Loop," released together with the original AirTag, costs 145,000 won, and the silicone, clear, and MagSafe cases are priced at 75,000 won. The iPhone crossbody strap comes with a price tag of 89,000 won, and because the strap can only be attached through the hole at the bottom of a genuine iPhone case, purchasing the case together is effectively mandatory.

Apple accessories have the advantage of high compatibility because they are integrated with Apple devices and services. This is why customers seek genuine products even though they are expensive. The MagSafe card wallet that attaches to the back of an iPhone case is also linked to Apple services such as Find My, and is priced close to 90,000 won.

Some users feel burdened by accessory prices and instead purchase mid- to low-priced products that are compatible with Apple devices. For example, on online shopping platforms, smart tags similar in form to AirTags are sold in the 10,000-won range, and products imitating MagSafe card wallets are available in the 10,000-20,000-won range.

Photo of the 'iPhone Pocket' released last year. Apple website.

Among Apple accessories, one of the most notable products for its high price was the set of four wheels for the Mac Pro, released in 2018 with a price tag approaching 1 million won.

Last year, the "iPhone Pocket," which Apple released in collaboration with Japanese designer brand Issey Miyake, also stirred controversy with a price point in the 200,000-300,000-won range. Social media consultant Matt Navarra said in an interview with the BBC, "This kind of pricing strategy is nothing new in the world of collaborations with luxury fashion brands or designers, but it makes you feel that Apple is testing the limits of consumers' brand loyalty."

Experts explain that Apple’s strategy may be aimed at strengthening exclusivity and brand power rather than functionality. Lee Eunhee, emeritus professor in the Department of Consumer Science at Inha University, said, "Because high prices prevent just anyone from buying, it is a strategy to induce the symbolism of Apple products and loyalty to the brand," adding, "However, some consumers may feel that the cost they are paying for that symbolism is too high."