SEOUL, South Korea — Speculations are rising regarding Samsung’s upcoming Galaxy Unpacked 2021 event, which might see the firm launch two foldable phones and a Galaxy Watch.
The invite for the event revealed the shapes of the new phones resembled the Galaxy Z Fold 3 and the Galaxy Z Flip 3.
Following the invite, Samsung president and head of mobile communications business, Tae Moon Roh, published a blog post saying that people would see two foldable devices at Unpacked — “third-generation foldable.”
“The upcoming Galaxy Z Fold combines the very best that smartphones and tablets offer and delivers completely new ways of working, connecting, and creating, while the upcoming Z Flip exhibits an even more refined style, armed with more durable, stronger materials,” the blog said.
“I firmly believe these devices will answer the call for the versatile mobile technology we need as we navigate the open road ahead.”
Samsung is saving specifications, features, and names for the event.
Samsung Electronics is predicted to gain an advantage in the foldable phone market, which is expected to proliferate due to Samsung’s continued to release in the verticals of foldable phones, lead-related technologies, and pre-occupy the market shares.
Shipments of foldable phones will grow to reach nine million units this year, three times more than last year, as per market research firm Counterpoint Research.
Samsung Electronics is expected to secure 88 percent of the market share by selling about eight million foldable phones in this rapidly growing foldable phone market.
Excepting the demand for foldable phones in China, it will dominate the global foldable phone industry market.
The foldable phone market is expected to continue to grow and reach ten times larger by 2023, the report said.
Although Chinese smartphone manufacturers such as Xiaomi have tried to enter the foldable phone market, Samsung Electronics might sell about 23 million foldable phones in 2023 and secure 75 percent of the market share.
The foldable phones are high value-added products that can generate high profits, so they might contribute to Samsung Electronics’ international management division’s expansion of sales and operating profit and catching up with Apple.
However, as Apple will enter the foldable phone market after 2023, the report said that competition between Samsung Electronics and Apple over the industry’s leadership would intensify.
Counterpoint Research said that the foldable phone market would multiply. The number and size of overall supply chains will also be expanded due to the competition between the two companies.
Samsung Electronics’ new foldable phones are expected to have more improved functions and user experiences.
(With inputs from ANI)
Edited by Amrita Das and Praveen Pramod Tewari
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