Sales of the passport-style Galaxy Z Fold8, Samsung Electronics' flagship foldable smartphone, increased by more than 20% following the launch of Apple's first foldable smartphone, the iPhone Duo.
This is interpreted as the result of pent-up demand for foldable smartphones shifting to the Galaxy Z Fold8, as the iPhone Duo experienced unexpected sluggishness due to a "crack gate" involving damage in specific areas of the screen and initial supply shortages.
According to the mobile communications industry on Tuesday, Galaxy Z Fold8 sales increased by more than 20% during the one week (the 23rd–29) immediately following the iPhone Duo's launch on the 23rd of last month, compared to the previous week (the 15th–22).
This result is contrary to earlier forecasts that Galaxy Z Fold8 purchases would decrease, given that Samsung Electronics and Apple, which divide the high-end smartphone market, are also competing in the foldable smartphone market.
The market views this as the result of buyers who had been waiting to purchase a foldable smartphone choosing the Galaxy Z Fold8 due to the iPhone Duo's "crack gate."
An industry official said, "Consumer interest has grown as new foldable smartphone products have been released recently," adding, "It is interpreted that demand for the Galaxy Z Fold8 has increased in terms of completeness, such as hinge technology and durability."
Samsung Electronics is also strengthening its promotional and marketing activities as competition in the foldable smartphone market intensifies. According to SK Telecom, KT, and LG Uplus, the three major mobile carriers announced that they had raised the common subsidy for the Galaxy Z Fold8 by approximately 100,000 won around the iPhone Duo's launch date on the 23rd of last month.
Since the common subsidy is the amount obtained by adding the manufacturer's subsidy to the mobile carrier's disclosed subsidy, weight is placed on the possibility that Samsung Electronics raised its subsidy.
In addition, Samsung Electronics plans to boost the popularity of the Galaxy Z Fold8 by extending the enrollment period for the "New Galaxy AI Subscription Club," which was scheduled to end last month, by one month until the end of November, and by conducting additional used phone compensation and year-end promotions.
Accordingly, customers who purchase a self-sufficient model of the Galaxy Z Fold8 in November can also receive up to 50% residual value guarantee upon enrolling in the "New Galaxy AI Subscription Club," as well as discounts on "Samsung Care Plus" and accessory packages.
Upon returning the device, the guaranteed residual value is up to 50% of the Samsung.com reference price for the one-year plan, 40% for the two-year plan (50% for the Galaxy Z Flip8), and 25% for the three-year plan.
Beyond this, Samsung Electronics plans to continue the success of the Galaxy Z Fold through additional used phone compensation benefits of up to 100,000 won, year-end promotions, CSAT generation promotions, and other initiatives.
in TECH
