Galaxy Z Fold 8 sales rise following launch of Apple's foldable iPhone 

Domestic sales of Samsung Electronics' new Galaxy Z foldable smartphone have increased following the unveiling of Apple's first foldable smartphone, the iPhone Duo, industry sources said Thursday.

Sales of the Galaxy Z Fold 8 in Korea rose about 10 percent in the week following the unveiling of the iPhone Duo from the previous week, according to the telecommunications industry.

The increase is believed to have been driven in part by consumers who had delayed their purchases while waiting for Apple's new product and subsequently opted for the Galaxy Z Fold 8 instead.

The iPhone Duo's price and hardware specifications are also considered factors in Korean consumers' purchasing decisions, they said.

The iPhone Duo is priced at 3.29 million won ($2,380) for the 256-gigabyte model in Korea, more than 1 million won above the 2.28 million won it costs to buy the 256GB Galaxy Z Fold 8. The 2-terabyte iPhone Duo model is priced at 5.09 million won.

The price gap in Korea is relatively wide compared to the United States, where the 256GB models of the two smartphones differ only by about $100 in price.

Yonhap