The Galaxy S20, Galaxy S20+, and Galaxy S20 Ultra were officially launched in Vietnamese retail stores on March 6th. With prices of 21.5 million VND, 24 million VND, and 30 million VND respectively, the Galaxy S20 series has continued to break Samsung’s previous records to become the highest-priced premium smartphone trio ever.
However, the sales performance of the Galaxy S20 did not meet Samsung’s expectations. According to data we collected at the time of pre-order, the number of Galaxy S20 pre-orders was only about 1/4 of the Galaxy S10. Furthermore, a recent report from PCMag indicated that after the first 7 weeks on the market, Galaxy S20 sales were only half that of the Galaxy S10.
There are many reasons that could have affected the Galaxy S20’s sales. The product’s lack of appeal, high price, or possibly the COVID-19 pandemic could all be factors. Regardless of the reasons, what Samsung is surely concerned about now is finding ways to boost sales.
Among the simplest and most effective methods Samsung could implement is to reduce the selling price of the products. It seems that this will be the approach Samsung will take in the near future in the Vietnamese market.
According to our sources, some retailers are running a “hot sale” for the Galaxy S20+ and Galaxy S20 Ultra at prices of 14.5 million VND and 20 million VND, respectively. Thus, compared to the launch price just over 3 months ago, the Galaxy S20+ and S20 Ultra have lost up to 10 million VND in value.
For those who purchased the Galaxy S20 at launch, this is clearly not great news. On the contrary, for those who are considering buying, this is excellent news.
At launch, the prices of the Galaxy S20, S20+, and S20 Ultra were considered high compared to what these devices offered. But now, with the significant price drop, the S20+ and S20 Ultra suddenly become very appealing Android smartphones worth considering.
The price drop for the Galaxy S20 may also be a strategy by Samsung to “clear the way” for the upcoming Galaxy Note20. It is expected that in early August, Samsung will launch a series of new premium smartphones including the Galaxy Note20, Galaxy Fold 2, and Galaxy Z Flip 5G.