SEOUL, Nov. 8 (Korea Bizwire) — Apple is facing criticism in Korea after the smartphone giant unveiled the price of the iPhone X, which is over 200,000 won more expensive than in the U.S. and Japan.
The new iPhone X, which is set to be released on November 24 in the South Korean market, will cost 1.42 million won with 64GB of storage, while the 256GB model will sell for 1.63 million won, easily the most expensive iPhone to date.
However, even considering the phone’s specifications and the brand’s high-end image, South Korean consumers are increasingly voicing frustration over the price differences with other countries where Apple first released its latest model.
According to industry sources, the iPhone X with 64GB memory capacity is being sold in the U.S. for the equivalent of around 1.1 million won, and the 256GB model for nearly 1.3 million won.
Even including a 10 percent sales tax, the iPhone X is notably cheaper in the U.S.
Prior to the price reveal, the South Korean mobile industry predicted the 64 GB and 256 GB iPhone X to be priced at around 1.3 million won and 1.5 million won, respectively, missing the actual market prices by more than 100,000 won.
Compared to other countries, the price of the iPhone X seems relatively high in South Korea.
In Japan, the 64GB iPhone X is on offer for around 1.12 million won before tax, and 1.15 million won in Canada.
Countries where the iPhone X is more expensive than South Korea include Hungary, Denmark, Sweden, and Italy, where the latest model from Apple is being sold for more than 1.54 million won.
It has also been learned that South Korean telecom companies were unilaterally told by Apple about the high iPhone X price, without any specific reason, according to industry sources.
Traditionally, mobile carriers and smartphone manufacturers discuss release dates and prices prior to the release, but Apple’s brand power gives the company the upper hand at the negotiating table.
Before the surprise release announcement on Tuesday, speculation among South Korean mobile carriers was that the iPhone X was expected to be released sometime in December at the earliest.
Ashley Song (firstname.lastname@example.org)