Apple's iPhone Greeted Like a Rock Star in South Korea


After a long wait, Apple's iPhone arrived in South Korea over the weekend . Prior to Saturday, regulatory roadblocks and touch negotiations with a local telecommunications company prevented Apple from selling its iPhone in the technologically advanced country.

"We're hoping that this iPhone will be a trigger point for the smartphone market in Korea," said Yang Hyunmi, chief strategy officer at KT Crop., Apple's local partner.

Smartphones only account for 1 percent of all cell phones in South Korea, Yang added. He also said that he expects the iPhone to be "really huge." And he's likely right. Since November 22, some 65,000 South Koreans have placed preorders for the popular smartphone.

That doesn't bode well for Samsung and LG, the two companies who dominate the mobile phone market in South Korea and also rank No. 2 and No. 3 globally.

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