Solana Founder Reveals Disappointing Saga Smartphone Sales

Solana Web3 smartphone Saga sales were not what the team had hoped for, reveals co-founder Anatoly Yakovenko.

Anatoly Yakovenko CEO of solana sad about SAGA phone.
Created by Kornelija Poderskytė from DailyCoin
  • Saga smartphone sales miss the target significantly.
  • Solana’s co-founder reveals he still uses an iPhone for work. 
  • Without a bigger user base, developing Saga apps is not viable. 

When it was first released, Solana’s Saga smartphone was heralded as the device that will finally bring Web3 mainstream. However, the journey of the Saga smartphone in the market has been less than ideal, with sales figures falling short of expectations.

Anatoly Yakovenko, co-founder of Solana, acknowledged that sales fell short of expectations. Moreover, he admitted that he still uses his iPhone for work and uses Saga as his “NFT phone.” 

Solana’s Saga Sees Disappointing Sales

The Saga smartphone, introduced by Solana Labs in June 2022, was designed to bring Web3 to mobile devices. However, the sales figures tell a different, disappointing story. In a Tuesday, December 5 interview, Solana founder Anatoly Yakovenko admitted that the sales of the Saga smartphone have been disappointing. 

According to Yakovenko, Solana expected sales of at least 25,000-50,000 units. This user base would make developing dedicated apps viable for the device. In contrast, Saga only sold 2400 copies, according to on-chain data available to the public. 

“We really needed to hit, I think, 25,000 to 50,000 units, to feel like there is a hardcore user base for developers to be compelled to ship applications,” Yakovenko said. 

Moreover, Yakovenko acknowledged that he still uses his iPhone for work. He cited the challenge of supporting all necessary security certificates and business applications on the Saga. These issues led him to use Saga as his “NFT phone.” 

Saga Sees Low Metrics, Slashed Price

The challenges with Solana Saga’s sales figures were evident well before the recent revelations. A significant indicator was Solana’s decision to slash the price of the Saga phone, a move that came after months of lackluster sales following its release. 

In August 2023, Solana announced a major price cut, reducing the Saga’s price from $1,000 to $599. Moreover, on-chain data revealed that Solana received only 1,200 unique orders for the Saga phone through crypto purchases. 

Additionally, the ownership of Saga Genesis NFTs, which are exclusive to Saga phone owners and offer unique rewards, further confirmed these figures. Currently, there are only 2,400 unique owners of these NFTs, aligning with the total sales volume of Saga phones. 

On the Flipside

  • Solana’s Saga runs an Android operating system with all of Google’s designated applications. In that respect, it is similar to other Android phones on the market. 
  • Given the low sales figures, there’s a looming question about whether developing exclusive apps for the Saga is economically viable. However, the lack of these apps further hurts Saga’s appeal to Web3 users. 

Why This Matters

Yakovenko’s admission about Solana’s Saga performance reveals that a Web3 phone is not as near as some expected. 

Read more about Solana’s Saga phone: 
Solana Phone: Do We Really Need a Web3 Mobile Device?

Read more about Bitcoin miners reaping the rewards of the BTC surge: 
Why Bitcoin Mining Firms Thrive as BTC Surges 20% in a Month

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
David Marsanic

David Marsanic is a journalist for DailyCoin who covers the intersection of crypto, traditional finance, and government. He focuses on institutionalized crypto entities like major cryptocurrency exchanges and Solana, breaking down complex topics into easy-to-understand writing. David's prior experience as a business journalist at various crypto and traditional news sites has enabled him to maintain a critical approach to news while adhering to high journalistic integrity standards.