SEOUL, Nov. 1 (Korea Bizwire) — U.S. tech giant Apple Inc. said Wednesday the iPhone X will be released in South Korea with a price tag of 1.42 million won (US$1,207), hovering far above that of Samsung Electronics Co.’s Galaxy Note 8 released in September.
Apple’s South Korean office said the 64GB iPhone X will be sold at that price, with the 256GB model fetching 1.63 million won. The price of the 5.8-inch smartphone hovers above market watchers’ earlier expectation of 1.3-1.5 million won.
The price of Samsung Electronics’ 6.3-inch Galaxy Note 8 64GB edition is 1.09 million won, and that of the 256GB version is 1.25 million won here.
Industry watchers said the local price of the iPhone X is significantly higher than the price of $999 set for the 64GB edition in the U.S. market, even taking taxes into consideration.
Apple has not yet decided the release date of the iPhone X for South Korea, although global sales will kick off on Friday.
Industry sources said the price of the iPhone X is even higher in European countries.
The price of the 64GB iPhone 8, set to be released in South Korea on Friday, will come with a price tag of 990,000 won, hovering above 782,000 won and 780,000 won set for the U.S. and Japan, respectively.