The Samsung Galaxy Fold is the world’s first true commercial foldable flagship. This makes it an exceptional device, despite the drama that the phone went through before its release. South Korea was the first country to get the Galaxy Fold officially, and a limited global release is due on September 18. However, it looks like the craze for the world’s first commercial foldable is sky-high in Hong Kong. Resellers are reportedly selling the device for astronomical prices in the grey market.
The official price tag of the Galaxy Fold is 2.4 million won (~$2,011) in South Korea, the only market where the device is officially sold right now. But resellers in Hong Kong have already managed to pick up a handful of units in the initial batch. Given how only 1000-2000 units were reportedly shipped in this first batch, getting a Samsung Galaxy Fold internationally through conventional channels, especially in Hong Kong, is next to impossible. That’s why Hong Kong resellers are asking nearly HK$38,000 (~ $4,856) for the Galaxy Fold in the grey market. That’s 2.5 times the original price tag of the device!
⇒ Editor’s Pick: Samsung is quietly working on a foldable phone that folds into a square: Bloomberg
But will anyone buy the Galaxy Fold at such astronomical prices?
Yes. There might be a few interested buyers for the device, even at this price. The Galaxy Fold is exceptionally unique in its market segment with zero competitors as of today. And getting a unit will not be easy anytime soon, especially in a market like Hong Kong where Samsung is yet to announce an official launch date. So the resellers in the grey market are the quickest way to get hold of the device in the region.
On a related note, the Galaxy Fold is up for pre-registration in China.
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