iPhone X sets sail in Korea

Sales of Apple Inc.'s latest high-end smartphone began Friday in South Korea with hundreds of consumers lining up at stores to buy the iPhone X.

The 64 GB iPhone X costs 1.36 million won ($1,237), while the 256 GB version is 1.55 million won. Local users will be able to choose between discounts of around 34,000 won to 122,000 won and a 25 percent cut in monthly payment plans.

Even considering the discounts, market observers said local prices are still far higher than in the US, where the 64GB edition is available for $999.

SKT employees promote an event for preordering the iPhone X at a SK Telecom shop. (SK Telecom)

The country's mobile carriers have received preorders for the gadget, but the preorders were sold out in a few minutes.

Tech watchers estimate the number of iPhone X smartphones allocated for South Korea in preorders was around 100,000, far below the more than 200,000 units posted by the iPhone 8 smartphones.

The 5.8-inch iPhone X is equipped with such new features as Face ID and an organic light-emitting diode display. (Yonhap)