Korean news outlets report that Samsung Galaxy S III price has fallen almost 90% in South Korea. From the launch price of 900,000 Korean Won (approx. $800 USD), the price has fallen to as low as 100,000 Korean Won (approx. $90 USD) this week. That's the full price for the phone, not an on-contract subsidy, though customers do have to sign up for LTE plans for at least two months to buy the phone at the lowest cost. Other Samsung flagship smartphones in the past, Galaxy S II and Galaxy Note, kept their launch prices for at least 6 months before seeing similar price cuts.
While new customers may be happy to see a flagship phone getting this cheap, existing customers are extremely dissatisfied with the price slash. There have been reported cases of customers causing scenes at cellphone stores in protest, and many people are voicing their discontent on Twitter and other social networking services. Samsung may be able to sell a few more Galaxy S III devices before the iPhone 5 comes out, but this price drop doesn't seem like a good strategy for the brand image.