Samsung Releases New Foldable Smartphones with Modest Sales Target Amid Changing Market

TapTechNews July 11th news, Samsung yesterday released the latest foldable smartphones Galaxy ZFold6 and Galaxy ZFlip6. When asked about the sales targets of these two phones at the press conference, Samsung Electronics President Roh Tae-Moon said: It's difficult to estimate the exact sales figures. But Roh Tae-Moon then added: Compared to the previous-generation models released last year, we expect the sales of the new products to increase by 10%.

This is not a very aggressive goal, and there is a reason why Samsung didn't shout out high-growth sales targets. TapTechNews noticed that according to the report released by Counterpoint Research in May this year, the global foldable phone market in the first quarter of 2024 increased by 49% compared to the first quarter of 2023. However, during the same period, Samsung's market share in this market decreased from 58% to 23%. At the same time, the market shares of Huawei, Honor and Motorola increased from 14%, 3% and 1% to 35%, 12% and 11% respectively.

Therefore, although the demand for foldable phones is rising, but due to the rise of new products, Samsung is losing market share. This trend may continue for a considerable period of time, which may be why Samsung doesn't expect the sales of Galaxy ZFold6 and Galaxy ZFlip6 to be much higher than that of Galaxy ZFold5 or Galaxy ZFlip5.

In fact, Samsung is not worried about other brands eroding the sales of the Galaxy ZFold series. Roh Tae-Moon said: As the market expands and competition intensifies, this is good news for consumers because they can benefit from a more competitive market.

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