Samsung believes foldable phones will outgrow the Galaxy S series in the next three years
Foldable smartphones are the next big thing. Or at least that's what Samsung wants you to believe. In recent years, the company has been heavily pushing its Galaxy Z Fold and Flip lineup of devices in the high-end market. Reportedly, the smartphone maker even killed its Galaxy Note lineup in favor of foldables. Its efforts have been bearing fruit, with the Korean giant shipping 10 million Fold and Flip devices in 2021. But Samsung has even bigger goals for its foldable lineup, as it expects them to account for over 50% of its premium smartphone shipments by 2025.
The statement was made by Samsung's mobile head Roh Tae-moon during a press conference in New York following the Galaxy Z Flip 4 and Fold 4 launch. As The Korea Herald reports, Roh told reporters that "by 2025, foldable items will take up more than 50 percent of Samsung's total premium smartphone shipments." Further, he claimed that foldables would become the "new standard of smartphones." For this to happen, Samsung's foldable devices would have to outsell its flagship Galaxy S lineup within the next three years. Consumer interest in the latter has declined in recent years, with the company losing ground to Apple in the premium segment. But this is easier said than done, especially given the high price tag of current folding phones.
The market for foldable smartphones is expected to grow rapidly in the coming years. Counterpoint analyst Jene Park estimates 16 million folding smartphones to ship this year and 26 million units in 2023. As for Samsung, analysts expect the Korean giant to ship around 9 million units of the Z Fold 4 and Flip 4 in 2022, up from a combined 7.1 million Flip 3 and Fold 3 shipments last year. Selling more foldable smartphones is also good for the company's bottom line, as their steep price tag translates into higher ASP (Average Selling Price) and fatter profit margins.
Despite foldable smartphones being in their early stages of development, Samsung faces stiff competition from Huawei, Oppo, Xiaomi, and other Chinese vendors in this segment, and that's bound to increase in the coming years. To reach its optimistic goal of shipping at least 50% foldable devices in the premium segment by 2025, the Korean company will have to do a lot more than launch devices with iterative upgrades like the Flip 4 and Fold 4.
( Details and picture courtesy from Source, the content is auto-generated from RSS feed.)
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