Half of Premium Smartphones Cost More Than W1 Million

Published on 2018/10/21 | Source

Half of all premium smartphones released in Korea since last year still cost more than W1 million, according to data from the Korea Communications Commission (US$1=W1,134).

Some 34 out of 67 premium smartphones sold by Apple, LG and Samsung cost more than W1 million.

The 256-GB iPhone X model released in November last year was the most expensive at W1.56 million, and the iPhone XS Max, which is set to hit store shelves in Korea later this year, will be priced at almost W2 million.

Minjoo Party lawmaker Park Kwang-on, who released the data, said the prices show that government policies to reduce communication costs for low-income households are not working.

Park said a 25-percent price cut in mobile fees and other measures have focused only on service providers. "If the public is to feel any benefits, it would be necessary to lower the prices of the devices themselves", he added.