SEOUL, Sept. 11 (Korea Bizwire) — A limited edition of Samsung Electronics Co.’s brand-new foldable smartphone Galaxy Z Fold 2 sold out in just four minutes in China.
The South Korean tech giant held a pre-sales event for the Galaxy Z Fold 2 and the Galaxy Z Fold 2 Thom Browne Edition through its China online store, Alibaba’s TMall and JD.com from 8:08 p.m. (local time) on Thursday.
The pre-sales were made on a first come first serve basis. The limited edition Galaxy Z Fold 2 Thom Browne sold out in all of the sales channels just 4 minutes after pre-sales began.
Unlike in South Korea where the sales were made on a drawing lots basis, Samsung will deliver the limited edition model to Chinese customers who made purchases earlier than others in an orderly manner from Sept. 25.
In China, the price of the Galaxy Z Fold 2 Thom Browne Edition was set at 27,199 yuan (US$3,975), more than 700,000 won (US$588) higher than in South Korea.
The Galaxy Z Fold 2 Thom Browne Edition is a premium package developed in collaboration with the famous fashion brand.
Some experts said the rapid sellout in China indicates that demand for the ultra-high-priced foldable smartphone is very strong among high-income Chinese consumers, who can show off their wealth to others by having such a phone.
Ashley Song (firstname.lastname@example.org)