Samsung’s supposedly fixed version of the Galaxy Fold Foldable Phone has officially gone on sale in South Korea, and the first batch of gray market imports have reached Hong Kong.

Known as “water products” in Cantonese–referring to the fact that these devices were sent to Hong Kong from another country of origin–the first batch of Folds are selling in a couple of shops inside Hong Kong’s Mong Kok district at an astronomical (and perhaps comical) price of HK$38,000, roughly $4,856.

This is a near 2.5-times markup over the Fold’s actual suggested retail price of around $2,000. But as someone who’s familiar with Hong Kong’s gray market scene–it is how I get my hands on many devices before the official review units are even available–I am confident these will be picked up soon.

Part of the reason the Fold’s price is so high is due to the extremely limited supply. According to reports, only 1,000 units were released so far in South Korea, and the phone has yet to go on sale officially in any other part of the world.

Trinity Electronics shows off the Fold.
Trinity Electronic Company in Hong Kong has a track record of getting gray market phones from overseas faster than anyone else. The company advertised its first batch of gray market Folds via a Facebook Live event. TRINITY ELECTRONICS

The Fold’s global release will take place in batches, with the first batch hitting Singapore, France, Germany and a couple of other European markets on September 18. The U.S. will get the device a week after that. No release has been announced for Hong Kong yet, which makes the grey market import that much more in demand.

The $2,000 retail price of the Galaxy Fold Foldable Phone has received plenty of mockery and criticism from the tech community, though I personally think it’s worth it, considering it is a cutting-edge piece of never-before-done tech. But then again, I’m what one would call an enthusiast, or more frankly, “gadget geek.”

Still, even I’m not hardcore enough to pay $4,856 for the Fold. More

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Ben Sin

Ben Sin Contributor https://www.forbes.com

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