The popularity of the Galaxy Fold has given Samsung confidence to increase production of foldable phones in 2020.

Galaxy Fold

Samsung is aiming to sell somewhere between 5 to 6 million foldable phones next year.

HIGHLIGHTS

  • Samsung looking to sell up to 6 million foldable phones in 2020.
  • Samsung planned 500,000 units of the Galaxy Fold this year.
  • Galaxy Fold has seen a positive response and is available in India for Rs 1,64,999.

The Galaxy Fold took its time to release this year, but it seems the company’s first foldable smartphone is finding a lot of buyers. Despite an extremely premium price tag, Samsung is reportedly expected to sell all 500,000 planned units of the Galaxy Fold this year. The popularity of the Fold around the world, including India, has given Samsung confidence to increase production next year. The company is now looking to sell up to 6 million foldable phones in 2020.

ETNews reports that Samsung is aiming to sell somewhere between 5 to 6 million foldable phones next year, which is a 10-fold increase in production. In order to increase production, Samsung will need to make additional investments in its Vietnam facilities. Samsung Display is currently looking at ways to increase production to meet Samsung’s target.

According to IHS Markit, the foldable phone market next year is expected to be around 3 million. Another research firm believes the market will be between 4 to 5 million. Either way, we are looking at millions of potential foldable phone buyers next year and Samsung plans to be the top seller.

Samsung initially had plans to sell 1 million units of the Galaxy Fold this year. However, due to delays in the Fold’s release, the company had to cut down production by half. The Galaxy Fold is available in India for Rs 1,64,999 via Samsung Shop and select retail stores across India. The company has seen a positive response to the Fold in India with units selling out during the first two pre-bookings.

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