[Asia Economy Reporter Joeslgina] "It's innovative." Samsung Electronics' third foldable phone, the 'Galaxy Z Fold2,' which gained attention through BTS's unboxing, will have its official debut stage on September 1. While the previous model, the Galaxy Fold, released a year ago, opened the era of so-called 'folding phones,' the newly unveiled Galaxy Z Fold2 is regarded as Samsung Electronics' trump card to firmly establish itself as a market leader. The market expects it to sell 500,000 units worldwide this year, surpassing the previous model's performance.
According to Samsung Electronics on the 28th, the company sent out invitations the previous evening to global customers and media representatives for the 'Samsung Galaxy Unpacked 2020 Part 2' event, which will be held online at 10 a.m. (Eastern Time, USA) on the 1st of next month, where detailed specifications of the 'Galaxy Z Fold2' will be revealed. The event will take place at 11 p.m. Korean time on the same day.
This marks the third Unpacked event this year alone. Earlier this month, Samsung Electronics introduced the Galaxy Z Fold2 at an online Unpacked event but postponed detailed specifications and release schedules to early September.
The Galaxy Z Fold2 features a larger screen and a thinner body compared to its predecessor. It can be used as a "tablet when unfolded and a convenient smartphone when folded." The front is mostly covered with a display except for a small hole for the camera, using a punch-hole design, maximizing immersion when watching multimedia content. Basic specifications such as battery and camera are expected to be similar to the previous model.
On August 5th, at Samsung Electronics' Galaxy Unpack event, the group BTS appeared during the introduction of the Galaxy Z Fold2. [Image source=Yonhap News]
Industry insiders expect the official release to be on September 18, following the Unpacked event on September 1. Samsung Electronics will also release the premium package 'Galaxy Z Fold2 Thom Browne Edition,' a collaboration with the luxury brand Thom Browne, following the Galaxy Z Flip.
Samsung Electronics aims to showcase the advanced technology of foldable smartphones through the Galaxy Z Fold2 and solidify its position as a market leader. Market research firm Counterpoint Research forecasts that the global sales of the Galaxy Z Fold 2 will reach 500,000 units this year. This is about 20% more than the first-year sales of 400,000 units of the previous Galaxy Fold.
Samsung Electronics' first foldable phone, the Galaxy Fold, was launched globally starting in Korea on September 6 last year, aiming for a production volume of one million units. However, it faced disappointing results due to display defects and supply issues. In contrast, the Galaxy Z Fold2, which will be released this time, is expected to see increased sales as supply issues have been partially resolved and attention to foldable phones has grown significantly.
The release of the Galaxy Z Fold2 is expected to intensify competition in the foldable phone market in the second half of the year. Microsoft (MS) and Motorola are scheduled to release the 'Surface Duo' and 'Moto Razr 5G,' respectively, in September. Huawei will also unveil its second foldable phone, the 'Mate X2,' in the second half of the year.
Samsung Electronics is reportedly developing three foldable smartphones aiming for release next year. Among them, the Galaxy Z Fold2's affordable version, tentatively named 'Galaxy Z Fold2 Lite,' is expected to be priced in the 1 million KRW range.
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