In a surprising turn of events, the highly sought-after Solana Saga phone, riding high on the popularity of the Solana-based $BONK meme coin, has faced a setback as it struggles to meet the overwhelming demand. The company behind the phone, Solana Mobile, recently revealed that an inventory mishap with its third-party distributor has left them unable to fulfil a significant number of orders.
Last week, the Saga phone created a global buzz by selling out its limited inventory of 20,000 devices in both the US and EU. However, the celebration was short-lived as Solana Mobile discovered an inventory management issue that resulted in a misleading representation of their actual stockpile. In essence, the company had sold more phones than it physically possessed, leaving them incapable of meeting the surge in orders.
Solana Mobile took proactive measures by canceling some orders flagged for suspicious activity, including those with excessive device orders or potential payment risks. This move aimed to ensure a fair distribution of the limited devices among genuine customers. Despite these efforts, the unexpected cancellations have left disappointed would-be buyers in their wake.
Tech influencer Marques Brownlee added fuel to the fire by awarding Solana’s Saga the dubious title of Bust of the Year in a recent video. Brownlee, with over 18 million followers on YouTube, criticized the phone, likening its purchase to a regrettable timeshare investment. He emphatically stated, “There is no price he could recommend to anyone who buys that phone.”
The surge in demand for Saga phones can be attributed to the soaring price of Solana (SOL) and the increasing popularity of Bonk (BONK). Solana trades at $93.97, a 19.20% increase from a week ago. Meanwhile, Bonk has experienced a remarkable 1.46% surge in the past 24 hours following its listing on Binance.
Originally priced at $599, the Saga phone’s market value skyrocketed to over $2,000 on eBay, with some listings reaching an astonishing $5,000. The initial purchase of a Saga phone included an airdrop of 30 million Bonk tokens, a tempting offer for those interested in the meme coin on the Solana blockchain.
Despite the setbacks, Solana Mobile remains optimistic, assuring customers that their Saga phones are on the way if they haven’t received a cancellation notice. The company is prioritizing delivery, with all shipping notifications expected to be dispatched before the end of the year.
The inventory mishap, however, serves as a cautionary tale. It highlights the challenges companies face when navigating the volatile intersection of technology and cryptocurrency markets.
