Samsung's record-breaking cashback event hits W4tr in sales

By Park Young-hoon — "It even sold out"

Samsung Electronics' unprecedented "Thanksgiving Festival" — launched to share the fruits of a semiconductor boom with the public — generated an estimated 4 trillion won ($2.69 billion) in sales, according to industry sources.

The promotion gave customers a chance to buy the Galaxy S26 series, normally priced at 1.25 million won, for as little as the mid-500,000 won range through a combination of discounts, driving demand so high that some models sold out.

Particularly popular was a benefit that returned 20 percent of the purchase price in Onuri gift vouchers, drawing such a surge of buyers that the total vouchers issued swelled to double the originally planned amount.

Samsung Electronics ran the "Thanksgiving Festival" from early June through July 5, offering customers who bought products a rebate worth 20 percent of their purchase price in Onuri gift vouchers, with the aim of stimulating domestic consumption and revitalizing local commerce.

According to industry sources Saturday, the total Onuri vouchers Samsung Electronics will issue through the "Together with the People, Samsung Electronics Thanksgiving Festival" is estimated at more than 800 billion won — double the originally planned 400 billion won. Given that the voucher rebate was set at 20 percent of the purchase price, the implied product sales volume during the event period reaches approximately 4 trillion won.

Notably, during the promotion period, customers could purchase the 256GB Galaxy S26 — with a retail price of 1.25 million won — for as little as the mid-500,000 won range. That figure reflects carrier subsidies, rate-plan discounts, credit card billing discounts and the Onuri voucher rebate combined.

The stronger-than-expected response led to a sellout of the Galaxy S26 Ultra. Delivery times stretched to about a month due to inventory shortages. Shipments of some other products, including TVs and PCs, have also been delayed.

Meanwhile, strong Galaxy S26 sales helped Samsung Electronics hold the top spot globally in the second quarter of this year, edging out Apple. According to market research firm Omdia, despite an overall contraction in the smartphone market, Samsung Electronics captured a 22 percent market share, surpassing Apple's iPhone at 20 percent to rank first worldwide. Strong sales of the Galaxy S26 series were a key driver.