'Passport-sized' foldable phone 'Galaxy Z Fold8' has achieved early success. Moving away from its past reputation as an "old man's phone" due to its popularity among middle-aged and older generations when unfolded into a screen twice the size, it has successfully targeted younger consumers with its cute, passport-sized exterior. Even if ordered now, delivery will take over a month.
'According to the IT industry on the 1st, purchasing the Galaxy Z Fold8 in cream color with 256GB storage at Coupang today means that even using the same-day or next-day 'Rocket Delivery' service, receipt of the product will not be possible until August 31. This is because initial stock was depleted due to a surge in orders following the start of pre-reservations on the 28th.' A Samsung Electronics representative stated, "Interest in pre-reservations has been high, causing delays in delivery," and added, "We are doing our best to deliver products as quickly as possible."
'Signs of trouble were evident from the very first day. The live broadcast held at midnight on Samsung.com during the first day of pre-reservations became a hot topic, recording 820,000 cumulative viewers. In particular, popularity is especially intense among younger generations. According to Samsung Electronics, more than half of those who pre-ordered the Galaxy Z Fold8 on Samsung.com were in their 10s to 30s.'
'The Galaxy Z Fold8 is a foldable phone with a newly introduced 'passport-sized' form factor by Samsung Electronics. When folded, it features a 4:3 aspect ratio 5.5-inch screen for portability; when unfolded, it offers a 1:1 aspect ratio 7.6-inch screen for convenience. It is not only suitable for hobbies like reading webtoons and watching videos but also highly effective for multitasking and business use. The manufacturer's suggested retail price is 2.5311 million won for the 512GB (gigabyte) model.'
'The industry analyzed that with the launch of the Z Fold8, Samsung Electronics' foldable phones have shed their niche image and gained a more mainstream appeal. An industry representative stated, "While previous Fold series models had demand limited to 'high-involvement groups' highly interested in IT technology, the Galaxy Z Fold8 appears to have expanded to general consumers," and added, "It has been proven that possessing an attractive exterior that makes people want to own it is the most important factor for boosting sales, rather than performance or chipset specifications."
'Samsung Electronics has its entire second-half outlook resting on the Galaxy Z8 series. The MX (Mobile Experience) and Network business unit of Samsung Electronics, responsible for smartphone operations, recorded an operating loss of 70 billion won in the second quarter this year due to cost burdens from a sharp rise in memory semiconductor prices. This marks the first operating loss since its establishment. In response, Samsung Electronics has proposed 'expanding sales of flagship (premium) models' as a strategy to restore profitability. Flagship models like the Galaxy 'S Series' or 'Z Series' have a lower proportion of cost compared to entry-level models, aiding in securing profitability.'
'The key issue is the competitive landscape with Apple's first foldable phone, scheduled for release in the second half of the year. Apple is expected to launch its first 'foldable iPhone' around September, estimated to feature a passport-sized form factor similar to the Fold8.'
'Samsung Electronics shows confidence in competing against Apple by leveraging its experience and know-how accumulated over seven years of selling foldable phones. Roh Tae-moon, CEO and head of the DX division of Samsung Electronics, emphasized at a press conference held on the 22nd (local time) in London, UK: "Durability and finish that can be trusted even after hundreds of thousands of folds, along with understanding of customers and experience in foldable optimization, cannot be caught up overnight."
'Meanwhile, market research firm Counterpoint Research predicted that Apple will capture 28% of the foldable phone market this year. Samsung Electronics' market share is expected to decline from 40% last year to 31%. However, since the overall foldable phone market is projected to grow by 20%, the company's revenue decline is expected to be limited.'
in TECH
