Samsung President No Tae-moon: "Foldable Popularization Has Already Begun... Targeting 50% Share by 2025"

No Tae-moon, President of Samsung Electronics MX Division, is speaking at a press conference held in New York, USA, immediately after the 'Galaxy Unpacked 2022 (Unfold Your World)' event on the 10th (local time).

[Asia Economy New York=Special Correspondent Joselgina] "The popularization of foldable smartphones has already begun."

Samsung Electronics, leading the foldable market, has set a goal to have more than half of its premium smartphone sales be foldable phones by 2025. Despite an uncertain business environment, the company also confirmed its intention to maintain its position as the global smartphone market leader by spearheading the launch of the new foldable phones 'Galaxy Z Flip4 and Z Fold4' in the second half of this year.

On the 10th (local time), Tae-moon Roh, President of Samsung Electronics' MX Division, attended a press conference held in New York immediately after the 'Galaxy Unpack 2022 (Unfold Your World)' event and said, "Through the Z Flip4 and Z Fold4, we will realize the mainstream and popularization of foldables in the global market more quickly." The Z Flip4 and Z Fold4, unveiled that day, maintain the strengths of previous foldable phones in design and usability, while significantly enhancing device completeness and convenience. They are scheduled to be released sequentially worldwide starting from the 26th in Korea, the United States, and Europe.

President Roh evaluated that "Although it was a category that did not even exist just three years ago, Samsung is leading foldables to become mainstream," noting that the Galaxy foldable phone first unveiled in 2019 has changed the landscape of the global mobile market. He diagnosed that foldables are no longer a niche market but are beginning to approach the mainstream.

Samsung Electronics' goal to sell more than 50% of Galaxy flagship sales as foldables by 2025 is based on this judgment. President Roh said, "With the Z Flip3 and Z Fold3 released last year, foldable popularization has already begun as usability was somewhat established," adding, "Now, we want to further complete this with the Z Flip4 and Z Fold4."

Specifically, this year is set as the inaugural year for selling more than 10 million foldable phones alone, and the plan is also to maintain the top spot in cumulative global smartphone sales. He emphasized, "Foldables must become mainstream," and added, "I am confident that the mobile market will move in this direction. We will make further efforts to expand the ecosystem."

President Roh, an engineer by background, expressed confidence that the 4th generation foldable phones, Z Flip4 and Z Fold4, "pursued perfection in every aspect" and "raised (technical completeness) to 100%." He explained that significant improvements were made in both software and hardware based on consumer feedback from the previous models. Regarding plans to release new form factors to increase the proportion of foldable phones in the future, he said, "We are conducting various trials and advanced development," adding, "It took about eight years of advanced development to launch the current foldable phones. We will introduce new form factors to the market only when we have sufficient experience and completeness."

However, the global market situation is not easy. President Roh also expressed concerns that the global smartphone market will shrink this year due to exchange rates, rising prices, and uncertainties in international affairs, saying, "The mobile industry is also facing difficulties." Nevertheless, he said, "Demand for flagship and premium products is still maintained and even growing in some advanced markets," and added, "Our goal is to lead demand in the premium market and expand market share through the Z Flip4 and Z Fold4."

To this end, unlike the 3rd generation, which experienced some supply shortages, sufficient initial supply of the Z Flip4 and Z Fold4 has been secured this year. The Flip4 'Bespoke Edition,' which was released about a month later last year, will be launched simultaneously with the basic model.

He also mentioned that there was much deliberation over pricing. Despite concerns about profitability due to rising raw material prices and logistics costs, the price of the Z Fold4 was kept below 2 million KRW. President Roh said, "To truly popularize foldables, we made it easier for consumers to approach," adding, "Although the current situation is disadvantageous in many ways, we aim to secure profitability by maximizing sales." Regarding the widening market share gap with Apple, the number one in the premium market, he responded, "We will strengthen competitiveness with a 'flagship first' strategy and increase market share by enhancing connectivity with Samsung home appliances and others."