Olympic athletes selling exclusive Samsung phones for cash boost

Some Olympic Games participants have been caught selling their Olympic memorabilia online to get an extra influx of cash.

Samsung has been an Olympics partner since 1998. During the Winter Games in Nagano, the "Call Home" campaign allowed nearly 2,500 Olympians to talk to their loved ones using mobile phones. At that time, access to mobile devices was highly restricted. To date, the company has provided participants with over 120,000 of its devices.

At this year's Games in Paris, athletes were given gift bags that included a limited-edition Samsung Galaxy Z Flip6 in a gold casing, featuring the Olympics logo.

For some, this phone became a Paris keepsake; some started using it during the Games, and others decided to sell it. Many auctions start at $1,250.

The Olympic model of these phones is a coveted item. It's exclusively meant for athletes and is not available for general sale. Thus, such auctions provide fans with an opportunity to acquire unique memorabilia.

A major promotion for these phones came from the selfies athletes took during pretty much every Olympic medal ceremony.

Giving athletes the Galaxy Z Fold6 undoubtedly proved to be an effective promotion for this device. According to the manufacturer of foldable phones, their sales have increased by 23%.

For our new wearable offerings, which includes the Galaxy Watch Ultra, in the UK we’re seeing an increase in demand year-on-year, up 37%; with health and wellness top of people’s mind as we find ourselves mid-way through the summer of sports with the Olympic and Paralympic Games well under way. There’s also a positive story for Galaxy Z Flip6, where the 2024 Olympic Edition Z Flip6 can be found in the hands of nearly 17,000 athletes as part of Samsung’s partnership with Olympic and Paralympic Games Paris 2024 contributing to a continued increase in consideration and purchase intent for our unique foldable smartphones," said James Kitto, Vice President of Samsung UK and Ireland, quoted by the "Evening Standard".

Commentators point out that selling Olympic memorabilia can provide a way for some athletes whose sports are not well-funded by their countries to earn extra money.

Another example of seeking extra income comes from British diver Jack Laugher, who admitted to earning money on an adult platform to focus on preparing for competitions without worrying about his finances.