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Galaxy Note 10 Plus 5G selling faster than any other 5G phone, analyst says

The phone's $1,299 price tag isn't keeping customers away.

The Samsung Galaxy Note 10 Plus 5G
Sarah Tew/CNET

Looks like the $1,299 price tag isn't scaring customers away from the Samsung Galaxy Note 10 Plus 5G after all. Sales of the premium, 5G-capable smartphone represented one third of all Galaxy Note 10 sales at Verizon in August, Cliff Maldonado, principal analyst and founder of BayStreet Research, told CNET sister site TechRepublic and confirmed to CNET. 

Verizon sold 40,000 Galaxy Note 10 Plus 5G devices in August, according to Maldonado, outselling all other 5G-capable phones at Verizon and other carriers, including the Samsung Galaxy S10 5G and the LG V50 ThinkQ. This is impressive given that the phone only became available on Aug. 23, along with the Galaxy Note 10 and Galaxy Note 10 Plus (without 5G).

The strong sales are likely due in part to the limited supply of non-5G models available at launch, Maldonado said. And both Verizon subscribers and Note users tend to want more expensive phones.

"The Note buyer is price-insensitive and wants the latest and greatest technology," Maldonado told TechRepublic. "A 5G Note makes a lot of sense at Verizon," as opposed to carriers such as T-Mobile, where users are looking to spend less, he added. 

It's also worth noting that Verizon offered 36-month financing for the Note 10 Plus 5G for the first time, Maldonado told CNET in an email. "While we don't think 36-month financing drove improved sales considerably, it does highlight Verizon's efforts to get 5G devices selling in better volumes than the GS10 5G," he said. 

Maldonado projects that Samsung will have sold even more Galaxy Note 10 Plus 5G devices in September, and sales will likely drop off after that. However, he said he expects sales will stay in the 30,000-device range each month through the end of 2019. 

While 5G networks are starting to get deployed throughout the nation, coverage remains spotty. But by 2022, 5G coverage will be far greater, and 5G-capable phones more useful. 

"We believe the high-value use cases for 5G are still being worked out," Maldonado told CNET. 

Verizon didn't immediately respond to requests for additional comment. 

Originally published Sept. 23, 11.22 a.m. PT.
Update, 1.44 p.m. PT: Adds additional comments from Maldonado.

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