Solana cuts price of its Saga phone by 40% four months after launch

10 August 2023

in Solano

Reading Time: 3 mins read

The Android-based Solana Saga has seen a significant price reduction from its iPhone-like starting price of $1,000 down to $599.

Solana Mobile, a subsidiary of Solana Labs, announced the news via Twitter on Wednesday. The company said the $400 cut is “the next step to get wider adoption of mobile web3 and continue to improve the experience for the Solana mobile community.”

The numbers tell a slightly different story.

On-chain data compiled by Flipside Crypto shows that sales for the Solana Saga have come down massively since their April and May highs.

The data tracks the number of Saga Genesis NFT mints, something that occurs when the owner of a Solana Saga sets up their phone and the Solana app store.

As of July 25, there are slightly more than 2,100 unique Saga Genesis NFT owners. This suggests that approximately this many Solana Sagas have been activated since early April.

Emmett Hollyer, the head of business operations for Solana Mobile, told Blockworks that price cuts like this are standard in the industry.

“Implementing a price reduction several months after launch is common practice in the consumer electronics business, particularly with smartphones,” Hollyer said.

“A lower price will accelerate user adoption,” he added.

Twitter users who say they purchased the Solana Saga at the $1,000 price point voiced their frustration with Solana’s decision. Others showed support for the price reduction.

One user said they regretted buying the phone and said this was a “terrible look.”