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According to a source familiar with the matter, Solana Mobile is reportedly planning to launch a second smartphone as a cheaper follow-up to its Saga smartphone.
The successor to the Saga mobile will feature new hardware and come at a cheaper price point than Solana Mobile’s current offering.
A Saga Smartphone Successor?
The upcoming smartphone will have the same basic features as the current Saga smartphone. This includes an in-built crypto wallet, custom Android software, and a dApp store for crypto applications. However, it will be available at a cheaper price point and new hardware. The original Saga phone shipped at $1000 when it was launched last year. However, prices soon dropped as the phone struggled, with sales numbers considerably low. In the end, Solana Mobile had to slash the price of the Saga smartphone to $400. At the time, Anatoly Yakovenko, co-founder of Solana, had stated,
“We really need it to hit 25,000 to 50,000 units to feel like there is a hardcore user base for developers to be compelled to ship applications.”
Renewed Interest In Saga
While interest in the Saga smartphone had dwindled, it picked up considerably during the latter part of 2023. This was attributed to a surge in the popularity of Solana-based meme coins, the most prominent of which was the BONK token, which was bundled with the Saga phone. By December, Saga devices had sold out as crypto holders realized that the BONK tokens bundled in the smartphone were worth more than the device itself.
The new device could help address the demand for Saga phones, as the secondary market sees unprecedented prices for the existing supply of Saga phones. Factory-sealed Saga devices are attracting bids as high as $3200 on websites such as eBay. This price is five times more than what it was just weeks prior. Representatives from Solana had stated at the time,
“Our priority is to continue listening to our community so that we can understand what this demand looks like, both now and in the future, and assess what comes next.”
Saga owners received a series of airdrops consisting of tokens and NFTs. The NFTs included Saga Monkes, which have a floor price of over $1000 in secondary marketplaces. The airdrops have helped to bolster the community around Saga, prompting developers to build more applications for the device.
While the price of the BONK token has dropped considerably, unopened Saga phones still command a significant price on secondary marketplaces.
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