Carrier subsidies play a major role in smartphone sales in South Korea. Samsung's phones tend to receive a lot of carrier support in its home country, given the significant demand for its products.
Samsung's latest foldable phones, the Galaxy Z Flip 6 and the Galaxy Z Fold 6, hit the market last month. Carriers in South Korea have now increased the amount of subsidies they're offering on the devices to maintain the initial sales momentum.
New Galaxy foldables are getting a helpful nudge from local carriers in South Korea
SK Telecom, KT Corp., and LG Uplus, South Korea's three largest carriers, have all increased subsidies for the new foldable phones from Samsung by up to 530,000 won or $385. Customers can take advantage of an additional 15% subsidies, receiving benefits over 600,000 won or over $440.
KT Corp. and LG Uplus have increased their subsidies on the device to a maximum of 500,000 won while SK Telecom has nearly doubled the subsidy from 234,000 won to 530,000 won. Market analysts see this decision as a strategic move to boost Galaxy Z Fold 6 and Galaxy Z Flip 6 sales in the country.
It's likely that the sales of the new foldables had become a bit sluggish after the initial hype died down. This would ensure that there's consistent demand for the new foldables that are arguably some of the best phones on the market in South Korea right now.
These carriers are also offering other incentives over and above these subsidies. For example, SK Telecom is giving a 50,000 won or $36 Naver Pay voucher to the first 1,000 customers who buy the new foldables through its online store. KT is giving a one-year Samsung Care Plus subscription to the first 1,000 buyers while LG Uplus offers the chance to win LG Bespoke home appliances and a variety of other gifts.
