The iPhone will be on sale for the first time in South Korea, and the device has already gained 40,000 pre-orders.
The South Korean Government had created barriers of entry to protect the mobile market in favor of domestic manufacturers.
Competitors have already responded by cutting prices to steal the iPhone thunder--including South Korea's most expensive smart phone, the Omnia2. The iPhone will have quite a challenge against better known domestic producers such as Samsung and LG Electronics Co. who control about 90% of the market.