Samsung Electronics’ latest AI-enabled smartphone has been found to have the lowest actual purchase price in South Korea compared to other countries worldwide. (Image courtesy of Yonhap)
SEOUL, Feb. 2 (Korea Bizwire) – Samsung Electronics’ latest AI-enabled smartphone, the Galaxy S24 series, has been found to have the lowest actual purchase price in South Korea compared to other countries worldwide.
According to industry insiders, the actual purchase price of the Galaxy S24 Ultra 256GB, sold through Samsung.com at a listed price of 1.69 million KRW, can drop to the 640,000 KRW range after applying various promotions such as trade-in discounts for used devices, instant discounts, and credit card discounts. This price does not include carrier subsidies or contract discounts.
For comparison, trading in a Galaxy S23 Ultra 256GB in South Korea could net up to 950,000 KRW in trade-in value, with additional discounts from Samsung.com (up to 2%) and credit card promotions (up to 100,000 KRW) further reducing the purchase price by over 100,000 KRW.
In contrast, there are no instant or credit card discounts offered to those purchasing the same model in the U.S. through Samsung.com. The device, priced at 1,299 USD, can be bought in the 800,000 KRW range (assuming a 10% tax rate) after a maximum trade-in value of 750 USD, making it over 150,000 KRW more expensive than in Korea.
Similarly, in Germany, the Galaxy S24 Ultra 256GB is priced at 1,449 Euros, and even after a maximum trade-in discount of 630 Euros, the purchase price exceeds 1.19 million KRW, making it over 500,000 KRW more expensive than in Korea.
The base model of the Galaxy S24 series (256GB) is also found to be the cheapest in South Korea. With a retail price of 1.15 million KRW in Korea, trading in a Galaxy S23 256GB can bring the price down to the 360,000 KRW range after trade-in and additional discounts.
In the U.S., the base model is priced at 859 USD, which, after a maximum trade-in value of 550 USD and assuming a 10% tax rate, comes to around 450,000 KRW. In Germany, the price is 959 Euros, and even after a trade-in value of 460 Euros, the purchase cost is about 720,000 KRW.
However, it has been reported that some models of the Galaxy S24 base version may have lower retail prices in China than in Korea.
Kevin Lee (kevinlee@koreabizwire.com)
