Unexpected Success of the 'Galaxy Z Flip'

Sales Over 5 Times That of Galaxy Fold
Discount Promotion Before 5G Model Launch...Cheaper Than S20
Praised for Design and Portability...New Trend of Phone Customization Emerges

Samsung Electronics launched a new Mirror Gold model on the 6th to continue the popularity of the Galaxy Z Flip. Mirror Gold was first revealed at the Galaxy Unpacked event held in San Francisco, USA, last February but was not sold domestically. After being released only in certain countries such as China, India, and Singapore, it was introduced in Korea for the first time this time. The photo shows the Galaxy Z Flip Mirror Gold model displayed at KT Square in Gwanghwamun, Seoul, on the day. Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Han Jinju] Samsung Electronics' Galaxy Z Flip is performing unexpectedly well. Since its release in February, it has consistently maintained strong sales, exceeding its target. This success is attributed to its fresh design, portability, and a more reasonable price compared to its predecessor.

According to industry sources on the 20th, the daily domestic sales volume of the Galaxy Z Flip is around 1,000 units, approximately 3 to 5 times that of the previous Galaxy Fold. The Galaxy Z Flip is the only flagship product released in the first half of this year to achieve its initial sales target.

According to IT specialized media SamMobile and others, the Galaxy Z Flip sold about 140,000 units in February and 230,000 units in March. In South Korea, sales exceeded 100,000 units as of April, and it is estimated to be approaching 200,000 units. The Galaxy Z Flip attracted explosive interest immediately after its February launch, to the extent that it experienced a shortage of supply for a while. Despite the smartphone market shrinking due to the impact of the novel coronavirus disease (COVID-19), the Galaxy Z Flip was unaffected.

Thanks to its sustained popularity and steady sales even after launch, the Galaxy Z Flip 5G model will be unveiled at the unpacking event in August this year. Although the exterior design remains the same, the model features an improved CPU processing speed. Ahead of the 5G model release, the price of the existing model has been reduced, and official subsidies have increased.

A craze for decorating phones with keyrings and stickers swept among Galaxy Z Flip users. (Photo by Samsung Electronics Newsroom)

Samsung Electronics also offers a free custom skin application service to Galaxy Z Flip buyers. (Photo by Samsung Electronics)

Samsung Electronics is putting effort into marketing, including launching discount promotions for the first time since the product's release. Samsung is running a promotion at Digital Plaza until the 31st, selling the Galaxy Z Flip at a discounted price of 1,199,000 KRW. The Galaxy Z Flip, originally launched at 1.65 million KRW, is now cheaper than the Galaxy S20 (1.24 million KRW).

Mobile carriers also lowered the Galaxy Z Flip's retail price from 1.65 million KRW to 1,496,000 KRW in early June. The official subsidy, which was between 60,000 and 210,000 KRW immediately after launch, increased to a maximum of 450,000 KRW after mid-June. With additional subsidies, it has become possible to purchase the phone for under 1 million KRW.]

Samsung Electronics has also introduced a service that creates and attaches custom skins so that new and existing Galaxy Z Flip buyers can personalize their devices with their desired designs. Among Galaxy Z Flip users, phone customization has become a trend, with certification posts showing phones decorated with stickers and keyrings filling social media.

An industry insider explained, "The Galaxy Z Flip has been steadily selling without being significantly affected by COVID-19," adding, "Its frequent appearances in TV product placements (PPL) and other indirect advertisements are proof of its consistent sales."