Samsung has a first mover advantage in the foldable smartphone market and wants to maximize it. After unveiling the new Galaxy Z Flip 5 and Z Fold 5 earlier this week, the company announced that it expects to sell 50% more than last year.
The Korean giant is relying on the growing popularity of its foldable phones to achieve this remarkable result. He is confident that the Galaxy Z Flip 5 in particular can drive additional demand to help achieve this goal.
TM Roh, head of Samsung’s mobile division, announced at a press conference in Seoul that Samsung’s foldable smartphone sales last year were close to 10 million units. Galaxy Z Flip 4 accounted for 60% of these sales, and Galaxy Z Fold 4 accounted for the rest.
According to the estimates of market analysis firms IDC and TrendForce, the size of the total foldable smartphone market is expected to exceed 20 million units this year. Based on these estimates, Samsung has set its Galaxy Z Flip 5 and Galaxy Z Fold 5 sales target as 15 million units. If these numbers are correct, Samsung will have an impressive 75% market share in the foldable devices category.
Roh expects the Galaxy Z Flip 5 to take an even bigger share of sales this year, especially in Samsung’s homeland, South Korea. He also stated that Samsung’s primary focus is to make its foldable devices popular. So the company will focus more on getting people to switch to this form factor.
The company’s latest foldable devices, the Galaxy Z Flip 5 and Galaxy Z Fold 5, are currently available for pre-order from Samsung.com. The devices will take their place on the shelves on August 11th.
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