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iPhone 7 Hits Korean Market with Remarkable Sales Volume

By October 22, 2016 at 11:03 am

The latest versions of Apple's smartphone the iPhone 7 and 7 plus, have finally hit the Korean market. The phones are now available in shops across Korea, heating up the intense competition against Samsung Electronics and LG Electronics to take a bigger slice in the local premium handset market.

Since their release on Friday, the release of the smartphones has been causing ripples in the country as sales soar high in the absence of Samsung Galaxy Note 7, which would have been dominant in the local market if it had not been pulled out of the market. The loss of Note 7 had cost Samsung billions of dollars and Apple is reaping some of its benefits, filling the gap left by Samsung.

The nation's three mobile carriers: SK Telecom, KT and LG Uplus, started to sell the new Apple flagship handsets on Friday, offering a series of promotional activities to steal more customers from its rivals. KT Mobile sold out its first batch of 50,000 iPhone 7s in 15 minutes. The total number of pre-orders sold in the Korean market has already doubled that of the iPhone 6 and 6s, reflecting the impact of the Note 7 strategy.

Upon launching the high-end smartphones, operators embarked on large-scale promotional activities, holding massive media and customer events to take maximum advantage of the present opportunity.

SK Telecom, the nation's largest mobile carrier, offered an overseas travel ticket worth 2 million won ($1,760) for the first person to purchase the iPhone 7 through its network service. A series of special gifts were offered for buyers of the new iPhones, including Bluetooth headphones, smart beam projectors or mobile data coupons to attract young customers.

KT also held its own promotional event, offering an iPad Pro,and Apple Watch Series 2 and a contract to use KT's mobile service for free for a year.

Retail prices for the iPhone 7 and 7 Plus start from 869,000won($764.90) and 1.02 million ($897.72) won respectively, for their basic 32GB models.

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