Beijing time, December 30, according to reports, Samsung Electronics said this Thursday,Sales of its Galaxy Z foldable smartphones have quadrupled this year from last year, further solidifying the company's leading position in the fast-growing new smartphone segment.
While Samsung won't disclose exact figures, the total number of Samsung Galaxy Z phones sold this year is estimated to be around 8-9 million, driven by the Galaxy Z Fold3 and Galaxy Z Flip3, which are popular among young consumers.
Samsung said: & LDquo; Sales of the two devices, just over a month after their launch in August, surpassed Samsung's combined sales of foldable devices last year. ”
Notably, Samsung says these two phones are the most popular Samsung models to date, with the highest conversion rates from other brands to the Samsung brand.
Samsung said the number of users switching smartphone brands for the Galaxy Z Flip3 increased by 150 percent compared to the Galaxy Note20 and 140 percent compared to the Galaxy S21.
Samsung introduced the foldable display concept in 2011 and introduced its first foldable device, the Galaxy Fold, in 2019.
Samsung introduced the Galaxy Z Fold3 and The Galaxy Z Flip3 with a 5-nanometer application processor, both of which are cheaper than their predecessors, as Samsung pushes to mainstream foldable smartphones and increase its share of the premium market.
Industry Research firm Counterpoint Research has previously estimated thatThe foldable smartphone market is set to quadruple this year from 2020, with Samsung set to dominate the market with a 75 per cent share by 2023.