Samsung Electronics' Galaxy Z Fold8 sales in South Korea rose more than 20 percent following the launch of Apple's first foldable iPhone, industry sources said Tuesday, as the US tech giant's entry to the category appears to be drawing fresh consumer interest.
Domestic sales of the Fold8 increased by more than 20 percent during the week of Oct. 23-29 compared with the preceding week, according to local telecom industry figures. Absolute sales figures were not disclosed.
The increase follows a roughly 10 percent week-on-week rise reported in September, shortly after Apple unveiled the iPhone Duo.
The Fold8 is Samsung's closest rival to the iPhone Duo in terms of design, with both featuring a compact, passport-style form factor and 7.6-inch inner displays.
Despite their similar designs, the two devices compete at considerably different price points. Apple's iPhone Duo starts at 3.29 million won ($2,457) in Korea for the 256GB model, more than 1 million won above the equivalent Galaxy Z Fold8, priced at 2.28 million won.
Samsung's price advantage has widened through carrier subsidies. KT raised its subsidy for the Fold8 on Oct. 21, followed by SK Telecom and LG Uplus the next day. The increases of around 100,000 won brought the maximum subsidy to 600,000 won for customers on eligible premium plans.
The sales increase also coincided with early complaints about the iPhone Duo's inner display. Some buyers reported cracks and bright lines appearing near the folding crease shortly after the device went on sale Oct. 23.
Apple acknowledged the problem on Oct. 26, saying a small number of devices were affected and offering replacements. The underlying cause has not been established.
Some Korean customers have returned their iPhone Duo units, including devices without visible defects, over concerns about future screen damage, according to local reports.
Apple CEO John Ternus told Reuters on Monday that only "a very small percentage" of iPhone Duo units had been returned over display issues. The company is still struggling to meet demand, with no timetable for when production will catch up, he said.
There is no confirmed evidence that customers returning the iPhone Duo switched to Samsung or that Apple's display problems directly contributed to the Fold8's sales increase.
Meanwhile, Samsung has extended enrollment in its New Galaxy AI Subscription Club for the Fold8, Fold8 Ultra and Flip8 through Nov. 30, a month beyond the original deadline.
The program, available to customers purchasing unlocked devices, provides device protection and guarantees up to 50 percent of Samsung's reference price upon eligible returns after one year. Two- and three-year plans offer lower guaranteed residual values.
Samsung is also offering additional trade-in payments of up to 100,000 won through November and running a year-end promotion through Dec. 31.
The Galaxy Z8 series recorded 1.44 million preorders in Korea ahead of its August launch, the highest for any Galaxy smartphone lineup, according to Samsung.
mjh@heraldcorp.com
