Disappointing sales of Solana’s Saga phone raise questions about project viability
Anatoly Yakovenko is considering the possibility of a cheaper ‘smart wallet’ as an alternative to Solana’s Saga phone, focusing on a niche market of 25,000 to 50,000 users. Companies like HTC and Sirin Labs have already attempted to launch crypto phones, but without much success beyond their fanbase.
Anatoly Yakovenko, founder of Solana, recently expressed concerns about the uncertain future of Solana’s Saga phone, citing disappointing sales and changing market dynamics. In an appearance on Laura Shin’s Unchained podcast, Yakovenko indicated that the decision to proceed with the project would depend on the ability to attract a sufficiently large user base.
Yakovenko mentioned the idea of a cheaper ‘smart wallet’, potentially appealing to iPhone users as a secondary device. This strategy aims to target a niche market of 25,000 to 50,000 users, which is considered the threshold for phone success. The Saga phone was launched earlier this year, with a price reduction in August from $1,000 to $599.
Comparison with other crypto phones
The history of crypto phones is littered with failures, from attempts by major companies like HTC to smaller ones like Sirin Labs. Previous attempts to create a cryptocurrency-focused smartphone have had limited success, often limited to a loyal but restricted user base.
Meanwhile, Anatoly Yakovenko revealed that he does not use the Saga phone as his primary device, alternating between it and his iPhone for professional reasons. He described the Saga as his ‘NFT phone’, emphasizing its specialized use in the NFT and blockchain ecosystem.
