Samsung's foldable phones sold more than 8 million units this year, four times as many as last year

IT House December 30 news, Samsung Electronics said Thursday that the company sold four times the number of foldable Galaxy Z series phones this year than last year, further consolidating its leading position in the fast-growing field of new smartphones.

According to Samsung Electronics on the 30th, according to preliminary statistics, the sales of the Galaxy Z series this year increased by more than 4 times compared with last year. Although no specific sales volume has been disclosed, referring to Samsung Electronics' sales of more than 2 million units last year, it is expected that the Galaxy Z series will sell more than 8 million units this year, mainly due to the popularity of the Galaxy Z Fold3 and Galaxy Z Flip3 among young consumers. About a month after the launch in August, the two new foldable models sold more than the cumulative total sales of Samsung's foldable devices last year, Samsung said.

Notably, Samsung said the two phones are currently the most popular Samsung phones and the ones with the highest conversion rate among other brands, which Samsung said was due to the former's "large screen for viewing content, multitasking capabilities and productivity features, including the S Pen", and the latter's "stylish design, portability and innovative foldable form factor".

Compared to the Galaxy Note20, Samsung said that the number of users who changed smartphone brands because of the Galaxy Z Flip3 increased by 150%, compared with the Galaxy S21, an increase of 140%.

IT House understands that industry tracker Counterpoint Research previously estimated that this year's foldable smartphone market will triple from 2020, and Samsung will dominate the market with a 75% market share by 2023.

In addition, according to DIGITIMES Research, in order to cooperate with Samsung Electronics to increase shipments of high-end folding screen smartphones in 2022, Samsung Display Company will increase the production of required panels. In terms of mid-priced models, Samsung plans to expand the installation of optical hand shock, 5G communication and waterproof functions to improve cost performance, and Korean camera module-related co-manufacturers are actively attacking business opportunities.