Foldable phones are becoming more popular every day. Nowadays, almost all manufacturers, except for Apple, have a device that uses the flexible OLED technology. What’s more, it is known that Apple is also conducting some work on this. Without a doubt, Samsung was the quickest to adopt to foldable technology. In fact, the company recently unveiled its latest foldable phones, the Galaxy Z Fold 5 and Z Flip 5 models, of which it’s one of the pioneers.
According to the latest information, the company has high expectations from this technology. Samsung aims to make foldable phones account for 20% of its premium sales globally by the end of 2023. Here are the details…
Samsung Plans to Sell More Foldable Phones in 2023
Selling premium smartphones is more important for manufacturers than selling all their other models. This is because companies earn most of their money from these high-end devices. For example, despite Apple selling fewer units than Samsung for many years, it earns more money. The reason is not because of selling entry-level or mid-range models like the Galaxy M and A series, but because it sells flagship products. Now, Samsung wants to achieve the same by selling foldable smartphones.
Roh Tae-moon, the president and head of Samsung Electronics’ mobile business, made some comments about the company’s plans at a meeting he held a short time ago. Tae stated that 2023 is very important for them, saying, “Samsung aims to sell more foldable phones.” Their aim is to have these foldable phones make up more than 20% of total Galaxy smartphone sales worldwide.
“This year will be very important for Samsung. We want to make foldable phones popular,” said Roh. He also said that in a few years, Samsung might sell up to “100 million foldable phones each year worldwide.” These numbers come from reports by many firms that study the phone industry.
By 2025, Samsung plans for half of its smartphone sales to come from foldable models. This means foldable phones will be as significant to the company as its Galaxy S series. The company already holds a leading position in the foldable phone market. In 2022, Samsung had a whopping 77% of the global foldable phone market share. This is a big deal for a market that is expected to reach 48.1 million units by 2027. However, it’s still uncertain whether the company can maintain this success in the future.
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(via)
