Solana Struggles With Saga Phones Inventory Amid Excessive Demand

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Hongji Feng

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Hongji Feng

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Hongji is a crypto and tech reporter. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX (Huobi Global),...

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December 22, 2023 02:45 EST

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Solana is facing inventory management challenges with its newly released Saga phones, leading to a series of order cancellations, according to a Solana Mobile post.

The complications arose when an inventory management issue with Solana’s third-party distributor led to an inaccurate representation of available Saga phone stock. Due to this mismanagement, the company was unable to fulfill several orders placed after the actual inventory had been depleted, leading to unexpected cancellations.

In addition to the inventory shortfall, Solana also identified and canceled orders exhibiting suspicious activity, such as excessive purchases or payment risks. This measure was taken to ensure a wider distribution of the limited devices among genuine customers.

“Given this, we are unfortunately unable to fulfill orders that were placed after inventory ran out,” wrote the post. “We canceled orders that were flagged for suspicious activity due to excessive device orders or payment risk, as we work to get Saga in the hands of as many users as possible.”

“If you haven’t received a cancellation notice, your Saga is on its way,” wrote the post. “Our team is prioritizing delivery, and all shipping notifications should be out before the end of the year.”

Soaring Solana and Bonk Prices Drive Saga Phone Demand

The increased demand for Saga phones is likely attributed to the soaring price of Solana (SOL) and the growing popularity of Bonk (BONK). According to CoinMarketCap, Solana is trading at $94.83 at the time of writing, up by 74% from a month ago; similarly, after getting listed on Binance, Bonk is up 331% in a month, even with recent fluctuations.

Originally priced $599, Saga was seen trading over $2,000 on eBay and even up to a staggering $5,000. Each initial purchase of a Saga phone included an airdrop of 30 million Bonk tokens, a popular meme coin on the Solana blockchain. Soon the value of the airdrop surpassed the $599 price tag as customers sought after the phone.

Saga Phone Ranted by Popular Tech YouTuber

However, in a recent video published by Marques Brownlee, a tech influencer with more than 18 million followers on YouTube, Solana’s Saga was awarded “Bust of the Year” and heavily criticized.

“There is no price I would recommend anyone buys this phone,” said Brownlee. “Buying this phone is like buying a timeshare. It might seem like a good idea for two seconds, but the second you actually do it, you realize how horrible of an idea it is.”