Solana Mobile has recently been dealing with inventory management issues surrounding its newly released Saga foldable smartphone (Solana Mobile, 2022). According to the company, a third-party distributor mismanaged stock representation, leading to inaccurate inventory counts and order cancellations.
Order Cancellations and Fair Distribution
Several customers who ordered Saga phones after the inventory had already run out saw their orders unexpectedly cancelled. Solana also cancelled orders that showed suspicious activity, such as excessive purchases or payment risks. The cancellations aimed to ensure fair distribution among genuine customers and prevent scalping (Solana Mobile, 2022).
Customers whose orders have not been cancelled are slated to receive their Saga phones soon. Solana promised that all shipping notifications for outstanding orders will be sent out by the end of the year (Solana Mobile, 2022).
High Demand Driven by Crypto Gains
The demand for the Saga phone has surged due to rising prices of the SOL and BONK tokens. As of this article’s writing, SOL was trading at $94.83 after seeing a 74% increase over the past month (CoinMarketCap, 2022). BONK also saw a 331% increase in a month after being listed on Binance, despite recent fluctuations.
The initial price of the Saga phone was $599, but units have been resold for over $2,000 and as high as $5,000 on eBay. Each Saga phone purchase originally included an airdrop of 30 million BONK tokens, contributing to the phone’s high demand.
Tech Reviewer Calls Saga “Bust of the Year”
Popular tech YouTuber Marques Brownlee, with over 18 million followers, sharply criticized the Saga phone, calling it the “Bust of the Year.” Brownlee strongly advised against purchasing the Saga, comparing it to a timeshare purchase (Brownlee, 2022).