The claim by a senior executive of Samsung some weeks back that the South Korean company managed to sell 1 million pieces of its Samsung Galaxy Fold was widely covered in the media. It now emerges that this was the wrong figure. The CEO of the company’s mobile division, D.J. Koh has now stated that the company itself had revised the 2019 target for the sale of the Samsung Galaxy Fold to 500,000 following the technical flaws detected in the model. Koh has not been able to share the precise number of units of the first foldable smartphone model sold by it for whatever reasons.
Company Admits to Hurrying the Launch to Beat Competition
Another revelation from CEO Koh is that the company wanted to be the first out with its foldable device in early 2019. That could have been one of the reasons for the issues cropping up on the device. The display screen was peeling off and the hinge on which the book-like phone was to fold was malfunctioning as well. The company immediately held back the market launch of the product after the official unveiling event and went back to the drawing board to fix the defects. After several hints of an impending launch, the Samsung Galaxy Fold was released for retail sales towards the end of the third quarter of 2019.
Priced Close to $2000, Even 400,000 Looks Impressive
When asked at a media meet, D.J. Koh has said the actual quantity of the Samsung Galaxy Fold sold could be anywhere between 400,000 and 500,000. Even this figure appears impressive for many market experts since the device is priced at $1980. With the phone having already reported an issue after launch and at this price level, the expectation on its acceptability in the market would have been low. It is also conceded that on a standalone basis, this number is nowhere near what the South Korean giant ends up selling each of its flagship models. Just to get the perspective right here, Samsung has claimed it sold close to 7 million 5G phones in 2019 alone and 5G phones don’t come cheap either.
Race for Foldable Smartphones Still On
While Samsung has already revealed its next foldable smartphone model, the Samsung Galaxy Bloom, there are other manufacturers in the fray as well. Motorola Razr and the Huawei Mate X are at least two that are known. Other brands may be planning to enter the fray as well. The market for foldable smartphones may be here to stay and grow.