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Samsung Electronics is having a hard time setting prices for its newly showcased phablet Galaxy Note 8 as the South Korean government is pushing to cut down telecom costs, industry sources said on Monday. Last week Samsung showcased the 6.3-inch Galaxy Note 8 with a dual-camera and improved stylus features.
Pre-orders are expected to start September 7 in Seoul, with the official release slated for September 15. Industry watchers earlier expected the local price tag will hover above 1 million won ($892), Yonhap news agency reported. The price of the 64GB Galaxy Note 8 in the US, already available for preorder, stands at $929. The price is even higher in European countries, industry sources were quoted as saying.
The Galaxy S8+ launched earlier this year came with a price tag of 990,000 won. Industry watchers said a lower price of the Galaxy Note 8 will adversely impact the sales of the Galaxy S8 models. The new South Korean government is also pushing to cut telecom costs for households, giving smaller leeway to local tech giants to release pricy smartphones.
Samsung would also not want to take its chances with this phone. Given the battery issues with the Galaxy Note 7, which lead to its eventual scrapping, and a loss of $6 billion to the smartphone giant, the Galaxy Note 8 will feature a 3300 mAh battery, smaller than its other top-selling models. This, the company expects, will restore customer faith in the Samsung brand.