Solana Mobile Set to Launch New Budget-Friendly Crypto-Ready Smartphone

Solana Mobile is gearing up to launch its second cryptocurrency-ready smartphone, aiming to capitalize on the unexpected success of its debut device, Saga. Sources close to the matter have revealed that the upcoming phone will retain the fundamental features of Saga, including an onboard crypto wallet, custom Android software, and a dedicated “dApp store” for crypto applications. However, the new model is set to hit the market at a more affordable price point and will boast different hardware specifications.

Solana Mobile’s decision to introduce a more budget-friendly smartphone comes after the initial release of Saga faced challenges in the market. Despite its innovative features, Saga struggled with sales, prompting a later reduction in its selling price from the initial $1000. The upcoming model aims to address this by offering similar crypto capabilities but at a price that caters to a broader consumer base.

Easing the Secondary Market Surge

The unveiling of the new Solana Mobile phone is expected to quell the escalating demand in the secondary market for existing Saga smartphones. The limited supply of Saga devices has fueled a red-hot resale market, with factory-sealed units commanding bids as high as $3,200 on platforms like eBay, marking a significant surge from just five weeks ago.

The revelation by cryptocurrency traders that the phone came with a BONK token allocation above the device’s original cost is what caused the surprise success of Saga’s secondary market. This information caused the Saga to sell out in less than a week, drastically changing the course of the experimental phone’s life, which had previously had trouble finding a sizable market.

The strategic decision by Solana Mobile to provide a more affordable option is in line with the changing dynamics of the cryptocurrency smartphone industry. The company hopes to replicate the success of the resale market by making crypto capabilities more widely available.