Samsung reportedly sets target of selling 6 million foldable phones in 2020

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Samsung is hoping the first mover advantage will help it continue its domination over the foldable phone market next year.

What you need to know

  • Samsung is reportedly aiming to sell as many as 6 million foldable smartphones next year.
  • The company is said to have sold 500,000 units of the Galaxy Fold so far this year.
  • Samsung is expected to launch the Galaxy Fold successor in the first half of 2020.

Korean publication The Bell had claimed last week that the Galaxy Fold successor could be launched as soon as April next year. Now, ETNews has come up with a new report that claims Samsung is targeting 6 million foldable phone sales in 2020.

As per the report, Samsung’s confidence in foldable phones has increased, despite the fact that its first foldable phone was delayed multiple times. Samsung’s mobile business division is reportedly working closely with Samsung Display to ensure that the high target can be achieved. However, the report notes that Samsung may have to invest in additional module facilities in Vietnam to be able to increase production of foldable phones.

Needless to say, Samsung has set a highly ambitious target for itself. Market research firm IHS Markit has forecasted the global foldable phone market will only grow to around 3 million next year. DSCC, on the other hand, expects the foldable phone market to expand to 5 million units in 2020.

If the report is to be believed, Samsung has sold 500,000 units of the Galaxy Fold this year. This means the company will need to sell more than ten times as many foldable phones next year to achieve its target. Samsung is initially said to have set a target of 10 million foldable phones next year but later decided to revise it downwards to 6 million. As per several reports, Samsung’s next foldable phone will be more affordable than the Galaxy Fold and feature a clamshell design.

Samsung Galaxy Fold

$1980 at Best Buy

The Samsung Galaxy Fold utilizes cutting-edge technology to deliver a completely new smartphone experience. Featuring a foldable design, the phone offers a large 7.3-inch Dynamic AMOLED main display and a smaller 4.6-inch Super AMOLED cover display. As you would expect, the phone runs on a Qualcomm Snapdragon 855 chipset, paired with 12GB of RAM and 512GB UFS 3.0 storage. You also get six cameras, stereo speakers, and a large 4,380mAh battery.

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October 21, 2019 at 06:38AM