Samsung expected to make 800,000 Fold2 devicesSamsung Electronics may produce up to 800,000 Galaxy Z Fold2 foldable smartphones this year, industry sources said Thursday, as the tech giant looks to increase sales of foldable handsets with an expanded lineup.
The Galaxy Z Fold2 was officially introduced Tuesday, with its global launch slated for Sept. 18. The price of the book-like folding device was set at $1,999.
Industry insiders said Samsung is expected to produce 700,000 to 800,000 units of the Galaxy Z Fold2 this year, which is more than the first-year production volume of its predecessor Galaxy Fold.
Samsung is likely to produce the Fold2 not only in Korea but also in Vietnam and Brazil, according to the sources.
"Manufacturing the Galaxy Z Fold2 from overseas plants proves that its yield rate has been stabilized," an industry insider said on condition of anonymity. "It looks like Samsung is now trying to focus on cutting costs for foldable smartphone production."
For the Fold2, Samsung said it focused on improving user experience and solving problems with the Galaxy Fold that were raised by consumers.
The launch of the Galaxy Fold, Samsung's first foldable smartphone, was delayed about five months last year due to display problems.
Analysts here said Samsung's foldable mobile device sales could reach 3 million units this year as the company expanded its foldable smartphone lineup.
The Galaxy Z Fold2 will compete with Microsoft's Surface Duo and Huawei's Mate X2, while the 5G variant of the Galaxy Z Flip, which will go on sale on Sept. 18, will go up against Motorola's upgraded Razr foldable phone.
But analysts said Samsung will likely move ahead against its competitors.
"Samsung has reconfirmed its technological prowess in foldable smartphones, so it is likely to take a leading position for quite an amount of time," Roh Kyoung-tak, an analyst at Eugene Investment & Securities, said. "With a diversified foldable product lineup, Samsung's foldable smartphone sales could expand to 8 million units in 2021."