Samsung Set to Set Record for Foldable Smartphone Sales

South Korean corporation Samsung is set to sell a record number of foldable smartphones, thanks to the Galaxy Fold 6 and Galaxy Flip 6 devices. This was reported by the publication SamMobile.

On July 10, the company announced the foldable smartphones Galaxy Fold 6 and Galaxy Flip 6. After the event, Samsung Electronics mobile division head Tae Moon Roh was asked if he expected the new devices to be successful. The IT giant’s top manager responded that the company was aiming to set a record.

“We want to sell 10 percent more new smartphones compared to the previous model released last year,” said Tae Mun Roh, emphasizing that it is difficult to predict sales of flagships.

According to SamMobile journalists, Samsung executives’ forecast for increased sales is optimistic. The authors recalled a report by Counterpoint Research, according to which the foldable smartphone market grew by 49 percent in the first quarter. However, Samsung’s share fell from 58 to 23 percent over the same period.

“Despite the growing demand for foldable smartphones, Samsung is losing its market share due to the emergence of new products,” the experts noted.

In early July, it became known that Apple planned to sell a record number of new iPhones – 100 million units. In 2023, the company intended to sell 80-90 million smartphones.