Samsung on Wednesday unveiled its latest foldable smartphones, the Galaxy Z Flip 5 and Galaxy Fold 526. July 2023
Samsung on Wednesday unveiled its latest foldable smartphones, the Galaxy Z Flip 5 and Galaxy Fold 5
Seoul, July 26, 2023
The entry-level Galaxy Z Flip 5 ($1,000) is a clamshell-style folding phone with a larger cover display, zero gap hinge, and slimmer design than its predecessor. The Galaxy Fold 5 ($1,800) has a 6.2-inch display that folds out to a 7.6-inch main screen, as well as a brighter display and an under-display front camera. Samsung also introduced new tablets, the Galaxy Tab S9 series, as well as two smartwatches, the Watch 6 and the Watch 6 Classic.
Counterpoint analysts do not predict a bright future for this market segment. With a share of just 5% of the global market for premium smartphones, they are a niche market. One reason for this is the higher production costs for foldable DisplayLAYS.
However, Samsung has taken the lead with a roughly 80% share of global foldable shipments over the past year. Counterpoint estimates that global shipments of foldable smartphones are expected to reach 22.7 million units in fiscal 2023, up about 52% from 14.9 million in 2022. This trend will not continue in 2024 because a significant portion of US consumers express no interest in buying a foldable device.