In a bold move underlining the growth trajectory of foldable smartphones, Samsung is targeting a significant milestone of shipping 20 million foldable smartphones in 2024, as reported by Korean outlet The Elec. This ambitious target is a part of Samsung’s broader strategy to dominate the foldable market, capitalizing on the positive market response to its existing foldable models.
Key Highlights:
- Samsung aims to double its foldable shipments from an estimated 10 million in 2023 to 20 million in 2024.
- The target includes sales from existing models like Galaxy Z Fold5, Z Flip5, and upcoming models Galaxy Z Fold6 and Z Flip6.
- The initiative aligns with the trend of growing popularity and technological advancements in foldable smartphones.
Samsung’s Bold Target:
The Korean tech giant has a grand vision for 2024, aiming to double its foldable smartphone shipments from an estimated 10 million in 2023 to 20 million in 2024. This bold target sets a high bar in the burgeoning foldable smartphone market, reflecting the company’s confidence in the acceptance and demand for foldable technology among consumers.
Upcoming Innovations:
Samsung is not resting on its laurels; besides targeting an increase in sales, the company is also focusing on technological advancements. The upcoming models, Galaxy Z Fold6 and Z Flip6, are expected to carry the mantle forward with enhanced features and designs, possibly including a thinner form factor for better portability and user experience.
Market Dynamics:
The global foldable smartphone market is showing promising signs of growth and acceptance among consumers. With Samsung being a front-runner in this segment, achieving this target could further solidify its position as a leader in the foldable smartphone market.
Market Response and Competition:
Samsung’s aggressive targets come at a time when the foldable smartphone market is increasingly competitive, with rivals like Apple and Xiaomi looking to make a mark. The positive market response to Samsung’s previous foldable models, such as the Galaxy Z Fold5 and Z Flip5, provides a strong foundation for achieving the 2024 goal. Additionally, the innovative designs and enhanced features of the upcoming Galaxy Z Fold6 and Z Flip6 are anticipated to further bolster Samsung’s position. Through strategic marketing and continuous innovation, Samsung appears well-poised to maintain its lead in the foldable smartphone sector, marking an exciting era of competition and growth.
Samsung’s ambitious goal of shipping 20 million foldables in 2024 underscores the burgeoning market’s potential and the company’s commitment to leading the foldable smartphone revolution. By focusing on both sales targets and technological advancements, Samsung aims to cater to the growing consumer appetite for innovative smartphone designs.
