The Korea Herald


Samsung’s new foldable phones draw strong preorders: reports

By Kang Jae-eun

Published : Aug. 22, 2021 - 15:28

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Samsung’s Galaxy Z Flip3 (left) and Galaxy Z Fold3 are displayed at a store in Jongno, central Seoul, last week. (Yonhap) Samsung’s Galaxy Z Flip3 (left) and Galaxy Z Fold3 are displayed at a store in Jongno, central Seoul, last week. (Yonhap)

Samsung’s new smartphone models -- Galaxy Z Fold3 and Galaxy Z Flip3 -- have not been launched yet but preorder figures suggest they are likely to be a super hit.

The two models are estimated to have logged a combined 450,000 preorders as of Sunday, according to local media reports that cited unnamed industry sources. Advance orders, which began Aug. 17, are to end Monday.

Total preorders could reach at least 600,000 units, they said. If sales of unlocked phones, or phones not locked to a particular mobile carrier, are included, the figure could even hit 800,000, the media reports said.

Samsung’s previous foldable phone model, the Galaxy Z Fold2, bagged a total of 80,000 units in presales.

The Fold3 and Flip3 are flying off the shelves even faster than the latest models from Samsung’s other two popular series -- the Galaxy S and Galaxy Note. Preorders for the foldable devices are twice that of Galaxy S21 and 1.5 times that of Galaxy Note20, both released last year, industry sources told local media.

Samsung’s latest Galaxy Z series was especially popular among young customers.

According to statistics from one mobile carrier, 49 percent of preorders made for Galaxy Z Fold3 was from customers in their 20s to 30s, while the same age group accounted for 57 percent of preorders logged for Galaxy Z Flip3.

This is much higher than the rate of preorders made among customers in 40s and 50s, which was 42 percent and 39 percent, respectively.

The strong preorder figures are a boon to Samsung’s strategy in popularizing foldable phones in order to defend its title as the world’s largest smartphone manufacturer from challengers such as Xiaomi.

While making the latest edition of the devices lighter and more practical, and equipping them with innovative new features, the company had also slashed prices.

It’s high-end model, Galaxy Z Fold3 (256GB) is priced 16.6 percent lower than the entry model of its predecessor, Galaxy Z Fold2 at around 1.9 million won ($1,600). Its more affordable sister, Galaxy Z Flip3 is priced even lower, at under 1.3 million won.

“With the demand for new smartphone models growing (in the local market) Samsung’s discounted foldable phone lineup will quickly take over the popularity of its Galaxy Note series,” said an industry official.