April 16, 2024

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[THE INVESTOR] The head of Samsung Electronics mobile business said on Aug. 1 that the price of the newly introduced Galaxy Note 8 phablet is likely to be above 1 million won (US$887).

During a meeting with reporters in Berlin, Koh Dong-jin, president of Samsung Electronics' mobile business, said it will be “extremely difficult” to keep the price lower than 1 million won in Korea.

The price tag on the 64-GB Galaxy Note 7 was US$850 in the US and 988,900 won in Korea.

When asked about the release of LG Electronics’ V30, Koh said Samsung Electronics hold its own “road map” for Galaxy products, saying its business plan keeps track of consumers, and do not consider rival products.

Koh said Samsung will wait for the results on a state agency’s latest investigation on the fire-catching Galaxy S7 but added he believes the company has done sufficient efforts to prevent such a malfunction.

Yoon Boo-keun, who heads Samsung‘s home appliances business, added its affiliate Harman International Industries will release an artificial intelligence speaker next year.

By Alex Lee and newswires (alexlee@heraldcorp.com)