In 2019, it is predicted that Samsung would sell 270 million smartphones, with a particular emphasis on sales of its foldable devices.
As per GSMArena, the current projection of 260 million phones sold in 2022 is approximately 10 million more than what was sold in the previous year, and the business aims to boost that number by another 10 million the following year.
According to reports, the corporation plans to accomplish this objective by emphasizing on foldable because doing so can boost profitability in comparison to simply increasing sales numbers overall.
This will shift gears to “defend profits” by selling an increasing share of premium products rather than providing inexpensive devices during the following year. This will take place.
The market share of foldables is expected to increase by an average of 80% each year by the year 2024, according to the company’s projections.
According to the source, the global leader in technology intends to sell 210 million units of the A series smartphones as well as 60 million pieces of its premium S & Z series in the coming year.
Recently, Samsung Electronics reported a significant decrease in profits for the third quarter. This was due to the fact that the company’s primary semiconductor business was confronted with significant challenges, such as falling memory chip prices & demand.
The largest manufacturer of memory chips and mobile phones in the world said in a regulatory filing that its net profit for the third quarter fell 23.6% from the same period a year earlier, coming in at 9.38 trillion won ($6.6 billion).