Submitted by Bob Bhatnagar on
Unlike Apple's lackluster product launch in China, South Koreans are going crazy for the iPhone. Long lines were seen in Seoul overnight and 65,000 people pre-ordered the device.
KT Corp is the country's second largest mobile carrier. The company expects the iPhone to boost their subscriber base and they hope to sell up to 500,000 units. Only one percent of mobile phones in South Korea are smartphones.
Pricing varies depending on the monthly service plan. For example, the 32GB model is priced at US $318 for customers who subscribe to a US $38 monthly service plan. The iPhone is free when the user subscribes to a monthly plan costing US $113.
Samsung and LG currently dominate the South Korean market for mobile phones, thanks to tough government regulations on foreign competitors. The iPhone launch was delayed due to the location services that come installed on the 3GS. Regulators were concerned they would violate privacy laws.
South Koreans pay some of the highest prices for mobile phones and data usage compared to others. The country is known for having a relatively closed information technology market.