Mobile is preparing to launch a more affordable successor to the Saga crypto smartphone to capitalize on the demand increase since the end of last year.
- The launch price of the Saga phone was initially set at $1,000 but was later reduced to $599 as the device struggled to gain demand at the start.
- Despite the reduction, at least two Saga phones were reported to have been sold on eBay for up to $5,000 as excitement around potential future airdrops continued.
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Solana Mobile is continuing to work on a cheaper version following the strong interest in the Saga phone.
Solana Mobile Unveils New Product Plans
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Solana Mobile is planning to release a successor to the Saga crypto smartphone to capitalize on the increased demand since the end of last year. The new phone will include an internal crypto wallet, a dapp store, and proprietary Android software like Saga but will use different hardware and offer the device at a more affordable price, according to the announcement.
The launch price of the Saga phone was initially set at $1,000 but was later reduced to $599 as the device struggled to gain demand at the start. However, the situation changed abruptly in December when the Solana-based memecoin BONK’s price surged parabolically, and the device included 30 million BONK tokens.
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With a limited stock of 20,000 phones, quickly sold out in the US and the EU, some orders were canceled and refunded due to inventory issues. Bonk, reaching a peak of $0.000035 on December 15 from levels around $0.0000038 just a day before, experienced a sudden increase of over 800% on the day the phones were sold. However, Bonk has since experienced a sharp decline and is currently trading at $0.000014.
BONK Token Craze
At its peak, the 30 million BONK that came with the Saga phones, initially valued at only a few dollars when the device was first launched, had gained a value of over $1,140, more than 90% of the device’s $599 cost. However, the subsequent decline in BONK’s price now values it at $420, which is below the cost of the phone.
Despite the decline, at least two Saga phones were reported to have been sold on eBay for up to $5,000, and secondary device sales continue to receive offers of up to $3,200, as excitement around potential future airdrops for phone owners persists.