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Apple's iPhone 7 Likely to Land in South Korea on October 21 as Samsung's Woes Deepen

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1 99 - IPHONE IN SOUTH KOREA OCT 21

 

The Korean tech press is reporting today that Apple Korea and 3 mobile network providers have agreed to sell iPhone 7 series through Apple Korea's homepage and mobile network providers' stores starting on Friday October 21, pending Cupertino's final approval.

 

With the Korean press being unhappy about how the Galaxy Note 7's battery crisis was handled in the U.S. made it a point to kick the new iPhone by stating that it has few innovations, that the jet black model is easily scratched and that the iPhone hisses when used all day.

 

At the peak of the iPhone 6 mania in Korea, Apple's iPhone held 33% market share in South Korean. Their market share now stands around 20%. Though according to a Gallup poll this summer, South Korean's in their 20's prefer the iPhone over anything from Samsung whereas those in their 50's prefer Samsung. A trend that has to have Samsung nervous.

 

And the news isn't getting any better for Samsung in South Korea. Once Apple cracked the ceiling in South Korea, Chinese competitors are now planning to flood the South Korean market with more choice which is going to ding Samsung the most. South Korea was once a safe haven for Samsung where they could count on dominating the market and help boost profits.

 

It'd being reported today in Korea that "Foreign smartphone-makers are speeding up their expansion in the Korean market long dominated by local brands Samsung Electronics and LG Electronics. A string of foreign smartphone brands Apple, Huawei, Sony and Blackberry have recently unveiled or plan to roll out their new devices here."

 

Chung Hei-sang, a senior researcher at Korea Economic Research Institute stated that "Korea is a good test-bed for new smartphones because of its fast Internet speed and tech-savvy consumers."

 

Hei-sang added that "The law to restrict phone subsidies, which makes it difficult for Samsung and LG difficult to cut costs, has opened more door for foreign low-budget phones to enter the local market." In fact to make that point clear, yesterday Huawei unveiled its smartphone H, which costs around 200,000 won – four times cheaper than the Galaxy Note 7 (1 million won) and V20 (900,000 won).

 

Between the Note 7 recall and now cheap Android competitors rushing into South Korea, 2017 isn't looking very good for Samsung.

 

And the cherry on top could be Apple opening its first flagship store in South Korea in 2017 if they're able to land a prime location that they're hoping to secure shortly.

 

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