Samsung’s Lu Taiwen The goal is for foldable screen smartphones to account for 20% of flagship machine sales

Samsung aims for foldable screen smartphones to make up 20% of flagship sales

【phoneauto News】Recently, Samsung has released a new generation of foldable smartphones, Galaxy Z Fold 5 and Z Flip 5. Lu Taiwen, the head of Samsung’s mobile division, said that 2023 will be a turning point for Samsung’s smartphone business, with the goal of increasing the sales ratio of Samsung foldable phones to over 20% of the Galaxy flagship models in the global market. It is understood that Samsung’s non-foldable flagship phones are the Galaxy S series, with the latest models being S23, S23+, and S23 Ultra.

According to phoneauto, Lu Taiwen also expressed the development goals for Samsung’s foldable smartphones at a press conference held in Seoul. Samsung aims to increase the global sales proportion of foldable smartphones to 25% by 2025, making them a key part of the company’s performance along with the Galaxy S series.

Samsung Galaxy Z Fold 5 and Z Flip 5

In addition, third-party research institutions predict that the global sales of foldable smartphones are expected to reach 100 million units per year in the coming years. According to relevant data, Samsung’s market share of foldable smartphones was about 77% last year. IDC stated that as consumers begin to embrace foldable smartphones, the shipments of such products are expected to grow by 50% this year, reaching 21.4 million units, and are projected to reach 48.1 million units by 2027.

Lu Taiwen stated that Samsung’s priority is to make foldable smartphones a mass-market product. Whether this goal can be achieved and the time it takes to achieve it are closely related to the company’s future profitability. He also mentioned that Samsung has been working with global partners to reduce the manufacturing cost of foldable smartphones.

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