The Galaxy Fold was Samsung's most expensive smartphone ever when it arrived last year. There were few who felt that the $2,000 price tag was justified. It was truly the world's first foldable smartphone and it offered flagship-level specs.
Samsung also wanted to create an air of exclusivity around the device, hence the tightly controlled retail experience and premium after-sales service. So it's understandable why the company may not be open to discounting its first foldable smartphone. Samsung has reportedly shot down a Galaxy Fold price cut proposal from carriers in South Korea.
Galaxy Fold price cut not allowed because of what it would symbolize
It's not uncommon for new Samsung flagships to get discounted merely a couple of months after they arrive. We have seen this with both the Galaxy S and Galaxy Note lineups. However, it appears that this is not something that Samsung wants to be associated with the Galaxy Fold just yet.
According to a report, all three major South Korean carriers had proposed a price cut for the Galaxy Fold from 2,398,000 won ($2,025) to 1,998,700 won ($1,688). They were considering it not because the Galaxy Fold hasn't sold well in South Korea, on the contrary, it sold like hotcakes in Samsung's home country.
They had proposed the price cut as Samsung's next foldable smartphone, the Galaxy Z Flip, is set to hit the market next month. Carriers tend to reduce the prices of existing models when a newer model is set to arrive. Samsung is reportedly not allowing them to do so largely because of symbolism. It's said that the company doesn't feel its first foldable smartphone should be sold at a discount as that would not make it as exclusive as it was at the beginning.
If this Galaxy Fold price cut were to be allowed, both of Samsung foldable phones would be in the 1 million won price range. Since the Galaxy Z Flip is evidently not a flagship, the Galaxy Fold wouldn't seem as premium just by association. Samsung probably wants to avoid that as well since it's yet to launch the Galaxy Fold's true successor, due later this year. The company would want to maintain clarity in the foldable lineup, with the Galaxy Fold being positioned as the true flagship.
It's not unheard of for companies to sit on inventory instead of selling their products at a discount. Luxury fashion brands like Louis Vuitton would rather burn handbags that cost tens of thousands of dollars than sell them at a discount because they just don't want to lose their exclusivity. Samsung wants to do the same thing for the Galaxy Fold.
Do you think it's the right decision? Share your thoughts in the comments section below.
