News  Smartphones  October 23, 2023  Reading time: 2 Minute(s)

Max (RS editor)

Seoul, October 22, 2023 – In an ambitious bid to dominate the emerging foldable smartphone market, Samsung has set its sights on selling a staggering 20 million foldable devices in 2024, doubling this year's expected shipment of 10 million units.

This bold target was revealed in a recent report by the Korean media outlet, The Elec. The announcement signifies Samsung's determination to assert its dominance in the rapidly evolving world of foldable smartphones, despite increasing competition from other tech giants and emerging brands.

The 20 million unit sales goal encompasses a range of Samsung's foldable devices, including the highly anticipated Galaxy Z Fold 6 and Flip 6, as well as the current generation of foldable phones, the Z Fold 5 and Flip 5. Samsung's strategy is not limited to a single flagship device but rather aims to offer a diverse portfolio catering to different consumer preferences.

What sets this target apart is the intense rivalry that Samsung faces in the foldable hardware space. Competitors like the Motorola Razr and Razr Plus, along with Google's Pixel Fold, present formidable alternatives to the Galaxy Z Fold 5. These competitors not only match Samsung in flagship-level features but also pose serious challenges in pricing, camera functionality, and outer display innovation.

The global landscape of foldable smartphones is also evolving rapidly. Emerging brands from overseas, such as Xiaomi, Huawei, and Honor, are making their presence felt with their unique iterations of foldable devices. For example, earlier this year, Honor launched the Magic V2, touted as the thinnest and lightest book-style foldable device, outpacing Samsung's offering by approximately 4mm in thickness.

Despite these challenges, Samsung remains undeterred and is determined to maintain its lead in the foldable smartphone market. The 20 million sales target for 2024 sends a clear message that the tech giant is committed to pushing the boundaries of foldable technology and offering consumers a wide range of choices in this innovative product category.

As 2024 approaches, all eyes will be on Samsung as they strive to achieve this ambitious goal and continue to shape the future of mobile technology with their foldable smartphones.