[Comprehensive] 1 Million Soon to be Sold... Galaxy Foldable Phone 'Pre-Order Boom' Storm

Pre-Booking Hits 800,000 Units, 10 Times More Than Previous Model
Pre-Delivery Starts Today... Extension Also Under Consideration

Samsung Electronics unveiled the foldable smartphones 'Galaxy Z Fold3' and 'Galaxy Z Flip3' at 'Galaxy Unpacked 2021'. On the 12th, customers visiting the Samsung Delight Shop in Seocho-gu, Seoul, are seen checking out the new products. The newly released products will be available for pre-order in Korea from the 17th to the 23rd and are scheduled for sequential global release on the 27th. Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Joeslgina] The initial sales performance of Samsung Electronics' new products, the 'Galaxy Z Fold3' and 'Galaxy Z Flip3,' which declared the 'popularization of foldables,' is remarkable. Pre-orders alone exceeded 800,000 units in just one week, showing competition against the strategic flagship S series models. If this trend continues, there is even anticipation that it could fill the void left by the 'Galaxy Note,' which will not be released this year, and possibly achieve '1 million units sold' in the shortest period.

◇Estimated 800,000 Pre-orders... 10 Times the Previous Model

According to the telecommunications industry on the 24th, the pre-order sales volume for the Z Fold3 and Z Flip3 over the past week until the previous day is estimated to be close to 600,000 units. Including the unlocked units sold directly by Samsung Electronics without going through carriers, sales during the pre-order period are expected to exceed 800,000 units.

This is more than 10 times the pre-order sales volume of the previous model, the 'Galaxy Z Fold2' (80,000 units). SK Telecom described it as "pre-order volume surpassing Samsung Electronics' existing flagship products (S series, Note series)." KT also confirmed that the number of pre-orders was about 10 times higher compared to previously released foldable phones. Carriers are currently informing some pre-order customers about possible delays. Some consumers who purchased unlocked units have also been notified of delivery delays.

Samsung Electronics is also considering extending the pre-activation period until September. A representative from a carrier store said, "No official notice has been received yet," but added, "The period will be finalized after observing the pre-activation atmosphere on the 24th."

◇Strong Response from 30s and 40s... Price Strategy Worked

Among the new foldable phones, the Z Flip3, which features a clamshell design and stylish colors, is notably popular. It is reported that the proportion of Flip3 in total pre-orders is much higher. KT announced that during the pre-order period, the Z Flip3 accounted for 71% of all selections.

By age group, the 30s and 40s generation showed clear enthusiasm. According to SK Telecom's official online mall T Direct Shop pre-orders, 60% of total pre-order buyers were in their 30s and 40s. For the Z Fold3, which folds like a book, male customers in their 30s and 40s accounted for 57% of total pre-orders. The Z Flip3 had a higher proportion of female customers aged 25 to 45 (35%).

[Image source=Yonhap News]

Industry insiders attribute the initial success mainly to Samsung Electronics significantly reducing the price burden by lowering the foldable phone's launch price by 400,000 won compared to the previous model.

The Z Fold3 was launched for under 2 million won for the first time in the Fold series (1,998,700 won to 2,097,700 won). For the Z Flip3 (1,254,000 won), carriers provide official subsidies of up to 500,000 won, which is double that of the previous model, lowering the actual purchase price to around 670,000 won. Additionally, improved durability compared to the previous model and technologies applied for the first time in foldables were also factors influencing purchases.

An industry official said, "It will be interesting to see if it can achieve the record of 1 million units sold in the shortest time." Previously, the 'Galaxy Note10' surpassed 1 million units in 25 days.

In particular, this initial success is even more meaningful for Samsung Electronics, which adopted an 'all-in foldable' strategy, even giving up the 'Note' series, a 'cash cow' in the second half of this year. As the leader in foldable phones, Samsung Electronics has set a strategy to lower prices in response to Chinese manufacturers' pursuit while leading the market through technological innovation. According to market research firm Strategy Analytics (SA), the global foldable phone market is expected to grow from 2.2 million units last year to 37 million units by 2023.

However, it remains uncertain whether the sales momentum will continue after the official launch on the 27th. Previously, despite clear signs of initial success such as 120,000 activations on the first day and an extension of the pre-activation period for the 'Galaxy S21' series, the six-month sales performance after launch was much lower than the previous model (S20), which was hit hard by COVID-19.