“Solana Mobile’s Road to Profitability: A Journey Ahead”

Solana Mobile still has a long way to go until it hits breakeven Solana Labs co-founder teases possibility of third mobile deviceLast month, Solana Mobile’s flagship web3 smartphone, the Saga, sold out. Last week the Solana Labs’ subsidiary launched its second phone and got over 40,000 preorders in less than a week. “After Saga sold out, it felt like there’s an opportunity and the timing in the market was right,” Anatoly Yakovenko, co-founder of Solana Labs, said on TechCrunch’s Chain Reaction podcast. “The timing [for the new phone] worked out right around that moment.”And if the second device is a success, there will be a third phone launched later on, Yakovenko hinted. “I think crypto was going through a hard bear market, and the Solana ecosystem was feeling the worst of it,” Yakovenko said.

Solana Mobile has been making waves in the tech industry as it continues to push boundaries and explore new possibilities. The company, co-founded by Anatoly Yakovenko, has been making a name for itself with its flagship web3 smartphone, the Saga. And while the phone has already sold out and the second model has received over 40,000 preorders, Yakovenko teases that there may be a third mobile device on the horizon.

In an interview on TechCrunch’s Chain Reaction podcast, Yakovenko shared the company’s strategy and vision for the future. “After Saga sold out, it felt like there was a great opportunity in the market and the timing was just right for us,” he said. “And now, with the launch of our second phone, the timing couldn’t be better.”

But this road to success has not been an easy one for Solana Mobile. The first Saga handset, priced at $1000, did not see much demand when it was first released in mid-2023. In response to this weak demand, the company quickly lowered the price to $599.

However, the introduction of a decentralized app (dApp) offering free tokens to Saga owners quickly turned things around. Crypto users took notice of this offer, especially after the dog-themed memecoin BONK’s dApp provided 30 million tokens to Saga owners. At the time, this was valued around the same price as the phone itself, making the Saga a hot commodity in the market and resulting in a quick sellout.

Yakovenko reflected on this turning point for the company, saying, “I think the crypto market was going through a difficult time, and the Solana ecosystem was particularly feeling the impact. We were actively seeking developers to help us launch and, to be honest, we were in survival mode. But we just had to hold on and wait for a change in the market.”

Web3 mobile phones are not just a joke; they have the potential to become a major growth category in the tech industry.

And Solana Mobile is determined to continue pushing boundaries and exploring new opportunities in this emerging space. With the success of the Saga and the high demand for its second phone, the company is already teasing the possibility of a third mobile device in the future.

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Max Chen

Max Chen is an AI expert and journalist with a focus on the ethical and societal implications of emerging technologies. He has a background in computer science and is known for his clear and concise writing on complex technical topics. He has also written extensively on the potential risks and benefits of AI, and is a frequent speaker on the subject at industry conferences and events.

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