Samsung is punting on a 10% lift in sales from their latest foldables this is despite Motorola now being seen as a credible competitor with their new Razr %0 Ultra and strikes threatening the Companies AI production.
The big difference is that Samsung has a host of new AI capability that the company hopes will drive sales.
Retailers who have lost 3G replacement business to carriers who had access to the databases of consumers still using a 3G smartphone with the network set to be cut off in Australia, are punting on the premium end of the smartphone market to keep growing.
The South Korean Company is expecting a 10% boost in sales numbers for the new Galaxy Fold and Flip 6 competitors according to Samsung Mobile Division President TM Roh.
He claims that the new ‘user-friendly’ features of the two phones, the cameras, battery life, the chipset, and AI will deliver “better results in global markets” he claimed.
The launch follows a slump in sales of smartphones during the past 18 months.
IDC claims that the worldwide foldable phone market will reach 25 million devices in 2024, up 37.6% from the 18.1 million units shipped in 2023.
Total foldable shipments worldwide will reach 45.7 million units by 2028, resulting in a CAGR of 20.3% for 2023–2028.
Samsung led the foldable market ever since its inception, but recently lost the crown to Chinese brand Huawei whose smartphone products are not ranged in Australia due to security concerns.
As for competition Roh claims it’s a good thing for consumers if the market gets more competitive, as it has this year.
What’s not known is what impact the strikes will have on the production of Samsung smartphones with the Companies largest union now calling on employees at one of the company’s most advanced AI memory chip plants to walk off the job.
Last week several hundred employees joined protests in front of Samsung’s high-bandwidth memory site in Pyeongtaek, south of Seoul, after the union called a general strike for this week.
Union leaders claim that they’re now targeting a small but strategically important complex in hopes of amping up the pressure on Samsung for better pay.
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