Samsung could ship over 10 million Galaxy Z foldable phones by end of the year
Samsung's Galaxy Z foldable phones are selling like hotcakesaccording to TheElec.
The Korean publication claims that shipments of the Galaxy Z Fold5 and Galaxy Z Flip5 are 8 to 10% higher than the previous generation during the same period a year ago.
However, the Galaxy Z Flip5 is the more popular device of the two as it accounts for 60% to 65% of the shipment numbers.
If TheElec's estimates are right, Samsung is expected to ship over 10 million Galaxy Z foldable phones by the end of this year. This would be a significant milestone for Samsung.
However, sales momentum could take a hit in the coming months due to the likelihood of a global recession. TheElec says Samsung initially planned to order 12 to 13 million Galaxy Z foldable phones by the end of the year, but the order has been reduced by a million units.
This does not bode well for the South Korean company. Its Q2 2023 earnings saw a 95% decline in profits due to lower phone shipments, and Samsung was counting on the Galaxy Z Fold5 and Galaxy Z Flip5 to turn that around.
Over the longer term, Samsung is expected to face fiercer competition from Chinese phone brands in the foldable phone market. While TrendForce projects foldable phones to hit 5% global market share by 2027, the market research firm believes the flood of foldable phones from Huawei, Oppo, Xiaomi, OnePlus and Honor could chip away at Samsung's market share.
Source: TheElec via Android Authority
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