Last year Samsung launched the Galaxy Note10 at a price of KRW 1.25 million and the Note10+ at KRW 1.5 million in South Korea. This year’s models will get a slight discount, reports Korean publication Naver – both the Galaxy Note20 and Note20+ will be KRW 0.05 million cheaper.
To put it in a Western currency, that’s $40, so it’s not much. However, it goes counter to industry expectations as analysts had a forecast that the 2020 models will cost KRW 0.05 more than their predecessors, not less.
The price cut is partially explained with the expectations of lower demand due to the COVID-19 epidemic. That’s not all, though, last year carrier offered major subsidies for the Note10 duo (up to KRW 0.7 million, covering most of the cost). This year the subsidies will be smaller, which means buyers will have to pay more upfront.
At launch, the Note10 was $950 in the US and €950 in Europe, the Note10+ was $1,100 and €1,100, respectively. Naver’s report doesn’t make it clear if the discount will apply to foreign markets, though, but we may see these prices follow the trajectory of the ones in Samsung’s home market.
Even with lower prices Samsung is reportedly expecting lower sales of its premium Galaxy Note20 series. This comes after sales of the S20 series were also affected by the financial uncertainty that buyers are facing.
The Note20 duo (along with the Galaxy Fold 2 and Z Flip 5G) will be unveiled at an Unpacked online event on August 5. The Notes are expected to go on pre-order immediately after and to become available in stores on August 21 (the foldables may be a bit late to market).