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| Samsung's Galaxy Z Fold 3 and Z Flip 3 models / Korea Times file |
Samsung's sales of new foldable phones this year will prove to be crucial in realizing its strategy to popularize its premium smartphones.
Market researchers are offering a range of forecasts. Display Supply Chain Consultants (DSCC) expects foldable phone shipments to reach 5.5 million this year, double the 2.3 million of last year. Counterpoint Research projects foldable phone shipments to reach 9 million this year. DSCC predicts Samsung will account for about 90 percent of global foldable phone shipments.
Samsung declined to share its internal sales goal, but it is likely to be close to market projections of 6.5 million foldable smartphone sales this year, given its market share. Samsung Vice President Choi Bang-seop referred to that figure cast by market researchers, after the company's latest foldable models debuted at an unpacked event earlier this month.
"Market circumstances haven't changed from last year, given no new players such as Apple have unveiled foldable models," an industry official said.
This year could determine whether Samsung will be able to include its foldable models among its flagship smartphones, along with the S series. This has become more likely at a time when Samsung may stop producing its Note series as it seeks to streamline its product lineup to boost market competitiveness.
Samsung's focus on its high-end models has become crucial at a time it needs to differentiate itself from Chinese competitors, such as Xiaomi, which are offering a wide range of models, from low-end to premium foldables, at much more affordable prices.
Competition has become more intense with Xiaomi overtaking the global No. 1 smartphone sales ranking in June. While this is attributed to temporary factors such as production disruptions at Samsung's smartphone plant in Vietnam earlier this year due to COVID-19, Xiaomi for the first time also overtook Apple in the second quarter to clinch second place in the global smartphone market share.
Samsung's latest foldable models are receiving a favorable response from the local market. In Korea, Samsung has secured 1 million reservations for its foldable models following their release. Samsung has begun sales of its Z Fold 3 and Z Flip 3 models in 40 countries, including the U.S., Canada, the U.K. and France. It plans to increase the number of countries releasing its foldable models to 130 by October.
The company released its Galaxy Z Fold 3 and Galaxy Z Flip 3 models on Aug. 11, as part of its strategy to include its high-end smartphones among its flagship models. The No. 1 smartphone vendor unveiled the latest version of its foldable phones, at slashed prices earlier this month. At the time of the launch, its mobile chief Roh Tae-moon said the world's top mobile vendor would be expanding its portfolio of foldables to make them more accessible to the public.
