Samsung CEO explains that foldable phones are so important

Samsung Galaxy Z Fold 4


Samsung’s head of mobile business, Roh Tae-moon, recently explained to The Wall Street Journal why foldable phones are so important to the company’s business.

Roh said in the report that Samsung’s foldable phones attract three times more brand switchers than Samsung’s regular Galaxy S phones. That means people are moving away from other phone manufacturers, be it Apple, Xiaomi or Oppo, and buying Samsung phones instead.

“We consider this a pretty meaningful percentage and a positive sign,” Roh told The Wall Street Journal. “This is about switchers from other brands, not about users of Samsung Galaxy devices switching to another Galaxy device.”

Samsung unveiled the latest versions of its foldable phones on Wednesday, the Galaxy Z Fold 4 and Galaxy Z Flip 4. The new phones fold in half. The larger of the two, the Galaxy Z Fold 4, opens to reveal a screen the size of a small tablet.

Samsung hopes to make the potential brand switcher “mainstream,” according to its most recent earnings statement. It aims to surpass its previous flagship smartphone, the Galaxy Note, in sales of foldable phones in the second half.

Foldable phones remain the fastest growing smartphone product category this year, according to Counterpoint Research, which expects the number of foldable phones to grow 73% to 16 million units.

Counterpoint also found that Samsung’s share of the foldable market was 62% in the first half of this year, although no other smartphone manufacturer offers foldable products in as many markets as Samsung. Counterpoint expects Samsung to hold 80% of the market in the second half of the year.

Read more in The Wall Street Journal.

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