Concerns are rising over potential losses on the part of smartphone retailers and manufacturers as the three major mobile carriers, KT, SK Telecom and LG U+, have been subject to suspension of business for 45 days. Besides, the Korea Communications Commission is expected to lengthen the period for overheated competition in the market.
Most of the smartphone stores in the Yongsan Electronics Market were shut on March 12. No customer was found in the few open shops.
“I am so much worried about how to run the business from tomorrow,” said a retailer, adding, “The telecoms operators have paid more than excessive subsidies and the majority of customers who need a phone have already bought one.”
He continued, “An increasing number of retailers here are mulling over winding up for poor sales, and the others are trying to make do with the customers of SK Telecom, which is scheduled to be subject to the suspension later, and those planning to change only their handsets.”