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Samsung introduces foldable smartphones to preserve its market dominance

Charlie Brooks

Aug 11, 2022 10:58

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Samsung Electronics (OTC:SSNLF) presented its most recent high-end foldable smartphones on Wednesday, maintaining the same cost as last year in a bid to secure its leadership in a growing niche market.


The smartphone maker priced its clamshell Galaxy Z Flip4 at $999.99 and its 5G-enabled flagship Galaxy Z Fold4 with a 7.6-inch primary display at $1,799.99 in the United States, the same prices as last year's models.


TM Roh, president and head of mobile experience at Samsung (KS:005930) Electronics, commented, "We have effectively transformed this category from a risky venture to a worldwide popular product line."


The Galaxy Z Flip4 and Z Fold4, as well as the company's newest earbuds, Galaxy Buds2 Pro, will be widely available beginning on August 26 in the United States, areas of Europe, and South Korea.


This year, global shipments of foldable smartphones are estimated to climb to 16 million units, representing just 1.2% of the 1.36 billion smartphone units expected to be shipped, but an increase over 2017's sales of 9 million foldables.


Although analysts forecast a downturn in the global smartphone business this year due to consumers' decreased spending, foldable smartphones are anticipated to perform better because of their unique form factor, enormous screens, and portability.


In the first half of 2022, Samsung led the foldable smartphone market with a 62% share, followed by Huawei with 16% and Oppo with 3%. According to Counterpoint, after the new releases Samsung's share in the second half will be about 80%.


In the second half, Samsung anticipates that sales of foldable phones would exceed those of its previous flagship smartphone, the Galaxy Note.


Apple (NASDAQ:AAPL) will be Samsung's key competitor in the future, and we predict the release of an Apple foldable device around 2024 or 2025, according to Jene Park, a senior analyst at Counterpoint.


Samsung noted that its newest models make it easier for consumers to use popular applications such as Microsoft's Instagram and Outlook (NASDAQ:MSFT).

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