Igeekphone January 24 news, according to Korean media The Elec reported that Samsung to further consolidate the market share in the foldable mobile phone market, more importantly, is actively exploring the Chinese market, plans to launch an entry-level Galaxy Z Fold 6 foldable screen mobile phone this year.
This is the first time Samsung Electronics is considering the development of an entry-level folding screen phone, but Samsung believes that there are many uncertainties in the business environment this year, and worries that the launch of an entry-level folding screen phone will have a negative impact on Samsung Electronics’ profitability.
After launching the first foldable screen phone Galaxy Fold in 2019, Samsung opened up the Galaxy Z Fold and Galaxy Z Flip two product lines, and launched one model every year from 2020 to 2023.
The latest models for 2023 are the Galaxy Z Fold5 and Galaxy Z Flip5, and if the news is true, there could be three models in the series this year: the Galaxy Z Fold6, the Galaxy Z Flip6 and the entry-level Galaxy Z Fold6.
According to the data released by market research agency DSCC, the change in the share of global foldable mobile phone shipments from the first quarter of 2022 to the fourth quarter of 2023, Samsung’s share increased significantly after the launch of new foldable phones in the third quarter.
According to market research firm OMDIA, Samsung Electronics ranked third in China’s foldable phone shipment share in the third quarter of 2023, accounting for 19 percent. Honor ranked first with 28 percent, followed by Huawei with 26 percent.
According to data released by Counterpoint Research, China’s foldable smartphone market showed exponential growth in 2023, with a year-on-year growth of 106% in the third quarter, and Glory’s Magic V2 was the best-selling model this quarter.
Huawei’s market share was 34 percent, Samsung’s 21 percent and Honor’s 16 percent.
In the third quarter of last year, Honor (July), Samsung (August), Xiaomi (August) and Huawei (September) respectively launched new foldable phones.
Igeekphone reported in July 2023 that Samsung Electronics President Roh Tae-moon predicted that the global sales of foldable mobile phones are expected to exceed 100 million units per year in the next few years, citing reports from a number of industry research institutions.
Roh said Samsung’s goal for 2023 is for foldable phones to account for more than 20 percent of sales of its flagship Galaxy models. In addition, Samsung Electronics seeks to increase the share of foldable phones in global sales to 25% by 2025, becoming a pillar of performance along with the Galaxy S flagship series, and making foldable phones a key category of high-end models.