[THE INVESTOR] Samsung Electronics’ Galaxy Note 7, which was launched Friday globally, is the most expensive in Europe and cheapest in South Korea, according to the tech firms’ online stores Friday.

The new phablet costs around 1.06 million won ($948) in Germany, 1.07 million won in France and Spain and 1.09 million won in the UK, according to Samsung’s online stores. 




The prices set for European consumers are around 70,000 won to 100,000 won higher than the price set for Korean consumers. The Galaxy Note 7 is being sold for 988,900 won here, along with freebies such as the Gear Fit 2.

“Prices in Europe are normally set higher than in other regions, considering higher consumer prices in the region,” Samsung’s official said, adding, “The prices are not entirely set by Samsung but with local mobile carriers.”

Europe, the second-largest market for Samsung’s smartphones, led strong sales of the Galaxy series in the first half of this year. Combined preorders of the Galaxy S7 series in the US and Europe -- in the 20 days since its rollout at the Mobile World Congress in February -- were 2.5 times higher than those for the Galaxy S6 series. The new series was the most popular among all the Galaxy series in Europe, according to Samsung.

In the US, Samsung Electronics’ largest market, the price of the Galaxy Note 7 was set at around 950,000 won, according to Samsung’s online store and mobile carriers.

By carriers, the retail price of the Galaxy Note 7 was around 957,000 won for Verizon, 955,000 won for AT&T and 942,000 won for T-Mobile. But the prices would go above 1 million won when including tax, which is around 10 percent.

Although the price in Japan is not yet set, the new phablet will reportedly cost around 894,000 won there. Samsung smartphones grab a less than 5 percent share in the nation dominated by Apple’s iPhone.

By Shin Ji-hye/The Korea Herald (shinjh@heraldcorp.com)