Solana Mobile intends to release a follow-up to its Saga cryptocurrency smartphone to capitalize on the spike in demand for the device that has been occurring since late last year, according to a person familiar with the situation.
According to the source, the new phone will have the same features as the Saga, such as an integrated cryptocurrency wallet, a dapp store, and a customized Android OS, but it will have different hardware and cost less.
The Saga phone was originally priced at $1,000, but since it didn’t take off, it was later lowered to $599. This abruptly changed in December when the Solana-based memecoin bonk’s price surged to parabolic levels, offering a potential for arbitrage given that the gadget included 30 million tokens.
In the US and the EU, the company’s 20,000 phone limited supply sold out quickly, and some purchases were canceled and reimbursed as a result of inventory problems.
The new Solana Mobile phone could help calm the booming secondary market that has been created by the severely limited supply of Saga telephones. Five times its previous price from five weeks ago, a factory-sealed Saga device was garnering bids of $3,200 on eBay at the time of writing.
Also Read: Analyst Predicts Solana (SOL) to Hit $750 by 2025
