20 November 2020
Samsung is currently the biggest smartphone maker that is taking foldable phones seriously. It has released a bunch of different phones so far and is committed to releasing more in the future. As per reports coming out of South Korea, Samsung is said to be planning to expand the foldable phone price range next year.
There are currently three main Samsung foldable phone models: Galaxy Fold, Galaxy Z Flip, and Galaxy Z Fold 2. All of these are premium priced smartphones and are essentially a luxury item. This is the reason sales figures for these phones are nowhere close to the other traditional phones including flagships. The idea to release foldable phones across different price ranges could help the company boost sales.
The South Korean tech giant is further hoping for a drop in profitability and sales in the last quarter of the year. It says that the decline will be due to competitive year-end sales. Interestingly, Samsung became the world's biggest smartphone brand in shipments for the third quarter. It overtook China's tech conglomerate Huawei to take the throne.
Samsung wrapped up by posting operating profits of around 1.56 trillion Won. This is an increment of 1 trillion Won as compared to the same quarter last year. This is the company's best quarterly performance since the second quarter of 2016. It said that the pent up demand for products after the COVID-19 pandemic hit helped its numbers grow.