iPhone 12 may undercut Galaxy S20 FE on price to attract buyers in world’s top 5G market

The iPhone 12 is right around the corner and thanks to a bevy of leaks, pretty much everything is known about Apple’s first 5G-capable smartphone . What’s keeping us on the edge of our seats are rumors surrounding the price of the phone.

The phone could start as low as $649. Alternatively, the baseline iPhone 12 mini may cost $749, which would make it more expensive than last year’s iPhone 11. South Korea’s Aju News (translated here) suggests that might not be the case, as spotted by leaker Sleepy Kuma.

Per the publication, the iPhone 12 mini will cost KRW 850,000 (~$738) in South Korea. In comparison, last year’s iPhone 11 was launched at KRW 990,000 (~$860) in the country.

With the lower price, Apple is apparently planning to take on the Samsung Galaxy Note 20 and the recently launched Galaxy S20 FE which costs 899,800 won (~$782) in Korea. 

Unsurprisingly, Samsung is the largest smartphone seller in South Korea, and it enjoys a comfortable lead over other brands.

Historically, South Korea has never been a priority for Apple and iPhones are usually launched in the country a month after their initial release. 

Since South Korea has a higher 5G adoption rate than most other countries, the Cupertino giant is eager to have its 5G phones on the shelves as soon as possible. And that’s supposedly why the iPhone 12 will go on sale in Samsung’s home country on October 30, a week after it goes on sale in the US. At the latest, the release could get pushed to early November.

The report also claims that the iPhone 12 will have a price tag of KRW 990,000 (~$860) on Samsung’s home turf.

The iPhone 12 Pro is expected to start at KRW 1.3 million (~$1,129) and the iPhone 12 Pro Max will apparently cost KRW 1.5 million (~$1,303) in its entry-level configuration. 

South Korea was the first country to roll out commercial 5G networks with the help of its three major carriers – SK Telecom Co., KT Corp., and LG Uplus Corp. At the end of August, it reached 8.65 million 5G subscribers. This number is forecasted to rise to 10 million by the end of the year.

Apple seemingly wants to use South Korea as a testing ground for its first 5G iPhones. The latest report also claims that the aforementioned telecommunication companies have been covertly testing the iPhone 12 since August.