On Thursday, Solana Labs canceled some of the orders placed for its Web3-powered smartphone dubbed Saga. In a blog post dated December 21, the Solana team regretted that the Saga smartphones ran out out of stock due to the high purchase volume witnessed last week.
This implies that despite Saga registering low sales months after it was launched, the Solana team worked around the clock to integrate additional features on the smartphone.
Solana Labs Cancel Pending Orders for Saga Phone
In an earlier interview, the Solana officials lamented that the sale volume dropped by nearly half in August. The sudden drop in Saga sales prompted the Solana developers to upgrade the mobile interface by integrating Progressive Web applications and pass keys.
The report indicates that the Saga was among the first crypto-focused smartphones launched after prominent phone makers such as HTC and Sirin Labs failed to develop products that matched the market demand.
Impressively, the quest to fix what went wrong forced the Solana team to learn past failures and focused on improving the smartphone features to meet the customer’s demands. Besides the upgrade on Saga, the Solana developers introduced an exclusive reward to the early buyers.
Unknown to many, the Solana Labs offered an airdrop worth 30 million BONK on every purchase of Saga. The discovery of the BONK reward on the Solana smartphone motivated customers to purchase large volumes of Saga smartphones.
The Solana team confirmed that the BONK reward increased Saga’s immediate sales. At that time, the 30 million BONK amounted to $865, exceeding the market price of the Saga smartphone, which was valued at $559.
Demand for Solana Saga Smartphone Surpasses Supply
Remarkably, days after Solana introduced a special offer on the Saga smartphone, a prominent YouTuber informed the crypto community of the after-sale benefits of the newly launched smartphone.
In his address, the YouTuber described Saga as having shifted from the worst phone of the year to the most purchased crypto-oriented smartphone.
He confirmed that the Saga started “flying off the shelves” after the potential buyers discovered that the benefits were more valuable than the phone’s market price. Despite the impressive sales volume, the YouTuber regretted that the Solana team sold products that were non existence.
In a separate writing, Solana Labs regretted that last week, the San Francisco tech company confirmed that it was hit by significant inventory management issues. The report indicated that the Solana team mistakenly oversold the Saga mobile phones.
The tech company blamed the third-party distributor for mismanagement of inventory, leaving some orders pending.
Shortly after the inventory error occurred, the Solana team took decisive action to contact the affected customers about the incident. The report indicates that the Solana team admitted that it made a mistake and was contemplating refunding the affected customers.
News concerning Solana’s Saga stock-outs created mixed reactions among the tech-savvy community, who were willing to pay for the premium product. In the report, the Solana team said it sold around 200,000 smartphones in less than a week.
Solana Bags Bust of the Year Smartphone Award
The team behind Saga described last week’s sale as a pyrrhic victory for the company. Following Solana’s big sale, Saga was crowned the “2023 Bust of the Year Smartphone Award” by the renowned tech reviewer Marques “MKBHD” Brownlee.
Updating the YouTube community, Brownlee recognized that the BONK reward increased sales significantly. The YouTuber requested the Solana Labs to consider shipping the “Bust of the Year” trophy to the office.
He later advises the Solana team to contact him for shipping services. Commenting on Brownlee’s request, the Solana team agreed to bring the trophy to their regional office.
The tech company recognized the intensive effort made by Saga’s core developers and anticipated creating “Saga: Bust of the Year” NFT to commemorate the award.
Beyond this, the Solana team plans to engage in extensive research to explore strategies to improve the Saga ecosystem. Hours after winning the Busy of the Year award, the daily trading volume of the Solana NFT surpassed the $3 million mark on Wednesday, December 20.
Editorial credit: photo_gonzo / Shutterstock.com
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