The Galaxy Fold's Korean Launch Saw the Phone Sell Out in Minutes and Resellers Hiking up the Price

By Shabana Arif on at

Samsung's Galaxy Fold launched in South Korea earlier this month and people have been paying extortionate prices to get themselves an imported handset.

The first round of pre-orders sold out in a matter of minutes, and as always, a lot of the people who managed to snap one up are resellers that bought the foldable for 2.4 million won (around £1,600) and are flogging it on for 3 million won (just over £2,000). These prices are getting more out of hand in Honk Kong, with Forbes reporting that imported handsets are going for HK$38,000 - that's around the £3,800 mark.

The sky high price is largely due to scarcity of the Galaxy Fold; apparently just 1,000 were released in South Korea, so demand is high and thirsty techies will pay whatever the going rate is, no matter how ludicrous.

The Galaxy Fold 5G launched in the UK yesterday in a limited quantity, and is retailing for £1,900 when bought directly from Samsung, although online purchase doesn't seem to be an option on the site right now, with prospective customers being directed to Samsung Experience Stores.

You can also head to Harrods or Selfridges, although the Fold isn't showing up on either of those sites yet, and it's also available on EE on four plans, ranging from £109 to £124 per month, with an upfront cost of £50, £150, and £200. EE still has stock by the looks of things, so if you want to risk grabbing a fold and trust that Samsung has fixed the many issues that plagued the device, you can go nuts. [Tom's Guide, SamMobile]