Seoul Economic Daily EnglishCodex · 实盘不做把握 8/10
北京时间·🕒 发布 08:14:51时区推断·⟳ 抓取 08:28:48·⚡ 决策 08-04 08:33:13 +4m25s·84.3 天前
韩国三大运营商启动Galaxy Z8系列预购开通并披露补贴与预订偏好
Galaxy Z8系列8月4日开始预购开通、8月7日正式发售,属于已排期新品上市节点而非突发订单。
📄 原文Seoul Economic Daily English↗ 原文
Korea's Three Carriers Launch Galaxy Z Fold 8 Sales; MVNO Plans Start at 5,000 Won
Korea's three mobile carriers simultaneously began activating Samsung Electronics' (005930.KS) new foldable smartphones…
不做 三星电子(005930.KS)
新品上市和预购开通是已公开排期,未披露绝对销量或利润增量;对三星电子这样的大市值公司不足以形成短线交易edge。
不做 SK Telecom(017670.KS)
补贴和内容权益属于常规渠道促销,净利润方向不清且没有新增业绩量级。
不做 KT(030200.KS)
套餐与换机权益是常规营销动作,缺少可量化ARPU或用户净增催化。
不做 LG Uplus(032640.KS)
预订结构偏向Fold 8但没有披露绝对规模,且促销成本可能抵消获客收益。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
消息传播链
- 三星已公布Z Fold8 Ultra、Fold8、Flip8预售期、8月4日预购开通和8月7日正式发售安排。
- 媒体汇总三大运营商补贴、预订偏好和MVNO促销,但没有披露绝对销量或订单金额。
关键理由
- Galaxy Z8系列8月4日开始预购开通、8月7日正式发售,属于已排期新品上市节点而非突发订单。
- SKT、KT、LG Uplus均称预订较上代增长且Fold 8占比过半,但未披露绝对销量、收入或利润增量。
- 26.5万至50万韩元补贴和运营商促销更多是常规获客竞争,对运营商短期利润方向不清。
主要风险
- 三星电子体量过大,单一手机系列预购结构改善难形成市值级短线重定价。
- 运营商补贴加码可能带来获客与ARPU改善,也可能压低终端销售毛利,净影响不明。
原文全文
展开原文 · 6,579 字
Korea's three mobile carriers simultaneously began activating Samsung Electronics' (005930.KS) new foldable smartphones, the Galaxy Z Fold 8 Ultra, Fold 8 and Flip 8. In pre-orders, the Fold 8 stood out on the strength of its large screen and portability. The carriers are competing to secure customers with content partnerships, dedicated plans and trade-in compensation.
SK Telecom (017670.KS), KT (030200.KS) and LG Uplus (032640.KS) said they began activations for Galaxy Z8 series pre-order customers starting on the 4th. Customers who did not participate in the pre-order can purchase and activate the products at carrier stores nationwide and online malls starting from the official release date on the 7th.
The common subsidy for the Galaxy Z8 series was set identically by all three carriers at between 265,000 won and up to 500,000 won, depending on the plan. The common subsidy is a device discount that mobile carriers provide to handset buyers, deducted directly from the retail price. It corresponds to the previous "public subsidy," but with the abolition of the Mobile Device Distribution Improvement Act in July 2025 removing the disclosure obligation, it is now called the common subsidy. However, the additional subsidies separately offered by agencies and retailers vary depending on the store and subscription conditions, so actual purchase prices may differ.
SK Telecom Sees More 20s-40s Customers; Netflix and Trade-in Benefits
According to SK Telecom, pre-orders for the Galaxy Z8 series increased from the previous model. In particular, the proportion of customers in their 20s to 40s rose to 65%, about 10 percentage points higher than the previous model. More than half of all reserving consumers chose the Fold 8. The proportion of customers who switched from a regular smartphone to a foldable phone also rose to 62%, up 10 percentage points from the previous model. By color, graphite for the Fold 8 Ultra, cream for the Fold 8 and pink for the Flip 8 were chosen most often.
SK Telecom will give 10,000 won in Naver Pay points to customers who subscribe to a Netflix plan with a Galaxy Z8 series device and link their account by the end of this month. It will also provide a Jeju Island family trip, style makeover experience vouchers and delivery gift certificates linked to Netflix content to a total of 3,055 people. Through "T Anshim Bosang with Mintit," customers who return their existing mobile phone by the 6th of next month can receive up to 1 million won in compensation, depending on the product and condition. Customers using the "T PREMIUM Samsung Card" can receive up to 960,000 won in benefits combining cashback and telecom bill discounts.
KT Sees More Than Half of Pre-orders for Fold 8; Plan Revamp and Phone Change Offered
The number of Galaxy Z8 series pre-orders at KT also increased considerably from the previous Fold 7 and Flip 7 models. The Fold 8 accounted for more than half of all reservations, ranking first in preference among the three models. By color, violet shadow for the Fold 8 Ultra, cream and lavender for the Fold 8, and pink for the Flip 8 were popular. KT analyzed that the Fold 8's popularity was driven by its combination of a wide screen and passport-sized form factor, enhancing both content usability and portability.
In line with the new product launch, KT revamped its "Choice Double" plan combining content and device benefits. It added a product bundling YouTube Premium Lite and Netflix Standard with ads, and a product combining YouTube Premium Lite with discounts on the Galaxy Buds4 and Galaxy Watch.
Customers who subscribe to "Phone Change" can secure up to 50% of the retail price at the time of subscription if they return their existing mobile phone after two or three years. Using two partner cards together, customers can receive up to 1.422 million won in benefits combining plan discounts and cashback, depending on spending. The KT Direct Shop provides discounts of up to 218,000 won over 24 months through dedicated plans. Customers paying with Shinhan, Samsung and BC cards are offered 12-month interest-free installments or up to 100,000 won in cashback. Among customers subscribing to Choice plans, 888 people will receive hotel stay vouchers, Shinsegae gift certificates and delivery gift certificates.
LG Uplus Sees 67.4% of Reserving Customers Choose Fold 8; Online Discount Use Rises
At LG Uplus, the concentration on the Fold 8 was even more pronounced. Of all pre-order customers, 67.4% chose the Fold 8. The Fold 8 Ultra and Flip 8 accounted for 17.1% and 15.5%, respectively. By color, cream for the Fold 8 was most popular at 37.9%, followed by graphite (31.5%) and lavender (30.6%). For the Fold 8 Ultra, violet shadow was chosen most at 42.9%, and for the Flip 8, pink at 50.5%.
Customer response to online purchase benefits was also strong. The usage rate of instant pre-order discount coupons provided at the U+ official online store increased 40% from the previous model. The proportion using Samsung Card's 24-month and 36-month long-term interest-free installments also rose 12%.
LG Uplus offers "Google One + Bosang Pass Premium Plus," combining Google's artificial intelligence (AI) and cloud services with device compensation. Bosang Pass subscribers can receive up to 50% of the reference price when they return a device for a device change. It also provides online discount coupons, long-term interest-free installments and additional trade-in compensation for used phones.
MVNOs Also Compete for Galaxy Z8 Customers; Plans Start at 5,000 Won
MVNO operators also launched promotions combining the unlocked Galaxy Z8 series with plans. Based on 256GB, the unlocked retail prices are 2.5773 million won for the Fold 8 Ultra, 2.2781 million won for the Fold 8 and 1.683 million won for the Flip 8. The 512GB models are 2.8303 million won, 2.5311 million won and 1.936 million won, respectively.
KT M Mobile offers benefits worth up to 310,000 won to customers who subscribe to a plan of 16,000 won or more per month and register an unlocked Galaxy Z6 to Z8 series device. SK Seven Mobile provides 50,000 won in Shinsegae gift certificates to Galaxy Z8 series users who subscribe to a USIM or eSIM plan of 5,000 won or more per month. LG Hello Mobile also provides additional benefits such as gift certificates to unlocked Galaxy Z8 series users who subscribe to a plan of 15,900 won or more per month. These target customers who want to combine unlocked products with low-cost plans instead of the three carriers' device discounts bundled with high-priced plans.
SK Telecom (017670.KS), KT (030200.KS) and LG Uplus (032640.KS) said they began activations for Galaxy Z8 series pre-order customers starting on the 4th. Customers who did not participate in the pre-order can purchase and activate the products at carrier stores nationwide and online malls starting from the official release date on the 7th.
The common subsidy for the Galaxy Z8 series was set identically by all three carriers at between 265,000 won and up to 500,000 won, depending on the plan. The common subsidy is a device discount that mobile carriers provide to handset buyers, deducted directly from the retail price. It corresponds to the previous "public subsidy," but with the abolition of the Mobile Device Distribution Improvement Act in July 2025 removing the disclosure obligation, it is now called the common subsidy. However, the additional subsidies separately offered by agencies and retailers vary depending on the store and subscription conditions, so actual purchase prices may differ.
SK Telecom Sees More 20s-40s Customers; Netflix and Trade-in Benefits
According to SK Telecom, pre-orders for the Galaxy Z8 series increased from the previous model. In particular, the proportion of customers in their 20s to 40s rose to 65%, about 10 percentage points higher than the previous model. More than half of all reserving consumers chose the Fold 8. The proportion of customers who switched from a regular smartphone to a foldable phone also rose to 62%, up 10 percentage points from the previous model. By color, graphite for the Fold 8 Ultra, cream for the Fold 8 and pink for the Flip 8 were chosen most often.
SK Telecom will give 10,000 won in Naver Pay points to customers who subscribe to a Netflix plan with a Galaxy Z8 series device and link their account by the end of this month. It will also provide a Jeju Island family trip, style makeover experience vouchers and delivery gift certificates linked to Netflix content to a total of 3,055 people. Through "T Anshim Bosang with Mintit," customers who return their existing mobile phone by the 6th of next month can receive up to 1 million won in compensation, depending on the product and condition. Customers using the "T PREMIUM Samsung Card" can receive up to 960,000 won in benefits combining cashback and telecom bill discounts.
KT Sees More Than Half of Pre-orders for Fold 8; Plan Revamp and Phone Change Offered
The number of Galaxy Z8 series pre-orders at KT also increased considerably from the previous Fold 7 and Flip 7 models. The Fold 8 accounted for more than half of all reservations, ranking first in preference among the three models. By color, violet shadow for the Fold 8 Ultra, cream and lavender for the Fold 8, and pink for the Flip 8 were popular. KT analyzed that the Fold 8's popularity was driven by its combination of a wide screen and passport-sized form factor, enhancing both content usability and portability.
In line with the new product launch, KT revamped its "Choice Double" plan combining content and device benefits. It added a product bundling YouTube Premium Lite and Netflix Standard with ads, and a product combining YouTube Premium Lite with discounts on the Galaxy Buds4 and Galaxy Watch.
Customers who subscribe to "Phone Change" can secure up to 50% of the retail price at the time of subscription if they return their existing mobile phone after two or three years. Using two partner cards together, customers can receive up to 1.422 million won in benefits combining plan discounts and cashback, depending on spending. The KT Direct Shop provides discounts of up to 218,000 won over 24 months through dedicated plans. Customers paying with Shinhan, Samsung and BC cards are offered 12-month interest-free installments or up to 100,000 won in cashback. Among customers subscribing to Choice plans, 888 people will receive hotel stay vouchers, Shinsegae gift certificates and delivery gift certificates.
LG Uplus Sees 67.4% of Reserving Customers Choose Fold 8; Online Discount Use Rises
At LG Uplus, the concentration on the Fold 8 was even more pronounced. Of all pre-order customers, 67.4% chose the Fold 8. The Fold 8 Ultra and Flip 8 accounted for 17.1% and 15.5%, respectively. By color, cream for the Fold 8 was most popular at 37.9%, followed by graphite (31.5%) and lavender (30.6%). For the Fold 8 Ultra, violet shadow was chosen most at 42.9%, and for the Flip 8, pink at 50.5%.
Customer response to online purchase benefits was also strong. The usage rate of instant pre-order discount coupons provided at the U+ official online store increased 40% from the previous model. The proportion using Samsung Card's 24-month and 36-month long-term interest-free installments also rose 12%.
LG Uplus offers "Google One + Bosang Pass Premium Plus," combining Google's artificial intelligence (AI) and cloud services with device compensation. Bosang Pass subscribers can receive up to 50% of the reference price when they return a device for a device change. It also provides online discount coupons, long-term interest-free installments and additional trade-in compensation for used phones.
MVNOs Also Compete for Galaxy Z8 Customers; Plans Start at 5,000 Won
MVNO operators also launched promotions combining the unlocked Galaxy Z8 series with plans. Based on 256GB, the unlocked retail prices are 2.5773 million won for the Fold 8 Ultra, 2.2781 million won for the Fold 8 and 1.683 million won for the Flip 8. The 512GB models are 2.8303 million won, 2.5311 million won and 1.936 million won, respectively.
KT M Mobile offers benefits worth up to 310,000 won to customers who subscribe to a plan of 16,000 won or more per month and register an unlocked Galaxy Z6 to Z8 series device. SK Seven Mobile provides 50,000 won in Shinsegae gift certificates to Galaxy Z8 series users who subscribe to a USIM or eSIM plan of 5,000 won or more per month. LG Hello Mobile also provides additional benefits such as gift certificates to unlocked Galaxy Z8 series users who subscribe to a plan of 15,900 won or more per month. These target customers who want to combine unlocked products with low-cost plans instead of the three carriers' device discounts bundled with high-priced plans.
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