Sales of Galaxy Z Fold 8 increase following unveiling of Apple's 1st foldable smartphone

Sales of Samsung Electronics' Galaxy Z Fold 8 have surged following the debut of Apple's first foldable smartphone, the iPhone Duo, according to industry sources. In Korea, the Galaxy Z Fold 8's domestic sales surged by around 10 percent in the week after the iPhone Duo's unveiling, compared to the previous week, the telecommunications industry reported.

This uptick in sales is attributed, in part, to consumers who had postponed their purchases while eagerly anticipating Apple's new product and subsequently chose the Galaxy Z Fold 8 instead. The iPhone Duo's pricing and hardware specifications also play a significant role in the purchasing decisions of Korean consumers, industry insiders explained.

The iPhone Duo is priced at 3.29 million won ($2,380) for the 256-gigabyte variant in Korea, which is about 1 million won higher than the 2.28 million won price tag of the 256GB Galaxy Z Fold 8. The 2-terabyte iPhone Duo model is available for 5.09 million won. The price disparity between the two smartphones is relatively larger in Korea compared to the United States, where the 256GB versions of the Galaxy Z Fold 8 and iPhone Duo differ by around $100.