Samsung Electronics’ (005930-KR) new generation of foldable mobile phones will be launched in about 40 countries around the world on Friday (26th). As high inflation hits consumption, it hopes to inject vitality into the sluggish smartphone market with its latest products.
Samsung said that the folding phone Galaxy Z Fold 4, Galaxy Z Flip 4, smart watch Galaxy Watch 5 and true wireless Bluetooth headset Galaxy Buds 2 Pro have been sold in South Korea, the United States and France, and are expected to be sold around the world by September. Listed in 130 countries.
Since the Galaxy Z Fold 4 and Flip 4 were released at an online conference this month, pre-orders have been opened in 70 countries around the world. Samsung said that in the week ended August 22, pre-orders in South Korea alone reached 970,000 units, the highest since the launch of a foldable phone and an increase of about 5.4% from the previous record.
Even with strong pre-orders, some experts believe that Samsung’s latest foldables lack breakthrough innovation and are on the same scale as previous generations.
SK Securities analyst Lee Dong-ju pointed out that Samsung’s new generation of folding machines has not changed significantly, but it seems to make up for the shortcomings of the previous generation. But he also said that although the specifications have not changed much, the company is still on track to achieve its full-year shipment target under the company’s generous publicity. He predicts that Samsung will sell about 16 million foldable phones this year.
The launch of a new generation of foldable machines comes at a time when Samsung, like other end-equipment players around the world, is not immune to the effects of a weakening global economy, which has led consumers to cut back on discretionary spending.
According to data from market research agency Canalys, Samsung shipped 60 million smartphones in Q2, leading the world with a market share of 21%. Although it was slightly higher than the 58 million in the same period last year, it was still down 19% from the previous quarter. Global smartphone shipments fell 9% in Q2 this year from a year earlier as soaring inflation hit consumers’ discretionary spending.