The South Korean tech giant will launch its latest Galaxy Fold a few weeks earlier than usual, aware of the increasingly fierce competition on its home turf. According to sources, Samsung may hold its “Unpacked” event in Seoul instead of New York or San Francisco on July 26.
Responding to this speculation, a Samsung representative said, "The time and location to reveal the new generation of foldable smartphones have not been decided yet."
However, observers say that if Samsung holds an event in Seoul or another city in South Korea, it is sending a clear message: It is the dominant player in the foldable smartphone market, in a context where Google and Chinese competitors are rushing to launch new products.
At Unpacked this year, Samsung will introduce the Galaxy Z Fold 5, a device as big as a tablet when opened and as a regular smartphone when closed, along with the clamshell Galaxy Z Flip 5, which has received much love for its sophisticated design and compact pocketability.
The company will also increase its reach in Southeast Asia and India by tying the Unpacked event to K-pop culture. Having lost market share in China, the electronics giant needs to find ways to improve its position in the rest of Asia.
Samsung also needs to launch new products sooner to shore up earnings as chip demand declines, according to research firm Counterpoint, which is forecast to see global smartphone shipments reach 1.2 billion units in 2022, down 12% from 2021 and the lowest since 2013. This is due to higher average quality and longer device upgrade cycles.
Still, analysts believe that foldable smartphones will be a game changer for the saturated smartphone market, as many people view them as the latest innovation in both hardware and software. According to Counterpoint, 4.7 million foldable smartphones were sold in the US last year. A recent survey by the company found that 28% of US smartphone users are now interested in buying a foldable smartphone, with Samsung being the most popular brand.
Canalys analyst Toby Zhu also predicted that foldable phones will play a positive role in the market, along with the popularity of 5G technology. He said that manufacturers have focused more on innovation, improving production and distribution efficiency after the turmoil. They have shifted from increasing output and market share to improving quality.
(According to Korea Times)
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