Samsung seems to be quite interested in foldable smartphones. According to Japanese media Nikkei Asia, the South Korean company is increasing the production of foldable smartphones. With that comes a phone that can be folded twice.
Not once, Samsung’s new phone can be folded twice
Earlier, Samsung said it would not release new Note series smartphones this year due to the chip crisis. But CEO Koh Dong-jin says they have plans to increase foldable smartphones even in the chip crisis.
Samsung is set to release new models of the Galaxy Z Flip and Galaxy Z Fold series this year. With that, by the end of the year, there may be two foldable smartphones. Citing three sources, Nikkei Asia has given this information. In addition, Samsung has applied for multiple patents to add two hinges to the smartphone.
Samsung plans to sell the same number of foldable smartphones like the Galaxy Note series each year. As such, Samsung needs to make at least one crore foldable smartphone a year. However, the plan may change depending on market conditions.
Analysts believe that the plan is to change the series of smartphones. At the same time, Samsung is thinking of staying ahead in the foldable phone market.
Another source says that Samsung has long been trying to significantly differentiate between the Galaxy S and the Galaxy Note series. Foldable series smartphones will succeed in that endeavor to some extent, which will replace the Note series in the future.
Suppose the foldable phone sales target is met. In that case, it can be assumed that Samsung’s annual revenue will also increase because the price of foldable smartphones is usually much higher than that of ordinary smartphones. For example, the Galaxy Z Fold 2 came on the market last year. It cost about two thousand dollars. And the price of the Galaxy Note 20 model smartphone starts at one thousand dollars.
In 2020, Samsung topped the list of the world’s largest smartphone sellers. The company sold 26 crores 8 lakh smartphones last year. However, market research firm IDC says that despite the decline in Samsung’s smartphone sales, Apple’s rival is growing.