With the recent launch of the Galaxy Z Fold3 and Galaxy Z Flip3, Samsung has lowered the prices for the new foldable smartphones even further. The company expects these devices to become more common in the high end segments of the smartphone market.
While the Galaxy Z Fold2 launched for 1,999 US Dollars back in 2020, the newly released Galaxy Z Fold3 costs 1,799 US Dollars at launch. In other words, the company is clearly working on making these devices more affordable and available to the broader audience. According to DigiTimes, the South Korean tech giant even cited a Strategy Analytics report that estimated that the global demand for foldable phones will reach 6.5 million units in 2021, which is nearly three times higher than a year prior.
Furthermore, the report added that foldable phone shipments is expected to surpass 100 million units by the year 2025. Notably, the Galaxy Z Flip3 that was launched alongside the Fold model is cheaper of the two and arrives with a price tag of around 1,000 US Dollars. This puts it in a price point similar to many premium grade flagship handsets like iPhones or even Samsung Galaxy S series models. The brand added that high end handsets are becoming more ‘demassified’ and each new model series has its own target customers.
Additionally, Jacob Chen, Samsung Taiwan Vice President, stated that the brand has doubled their budget for marketing of the new foldable phones this year, compared to that for the Note series. He added that the push in promotion seeks to elevate the new foldable devices’ sales to a level seen by the Note series last year. Chen also said that the company is confident in seeing higher sales, with sales already exceeding expectations in South Korea.
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