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More 'foldable' smartphones coming from Samsung in 2021, report says

Samsung expects a dip in sales and profitability during the fourth quarter of 2020 due to intensified competition from year’s end sales.

November 02, 2020 / 10:35 AM IST

Samsung is planning to expand its foldable smartphone price range next year. According to a new report, the company will launch affordable foldable smartphones in 2021, making them accessible to more consumers. Samsung, this year, launched two foldable smartphones - Galaxy Z Fold2, and Galaxy Z Flip - which are priced above Rs 1 lakh in India.

The company, in its Q3 quarter earnings conference call, revealed that it will continue to launch more smartphones in the foldable category in 2021, according to The Elec. It also said that it will expand the price range of foldable smartphones.

Samsung expects a dip in sales and profitability during the fourth quarter of 2020 due to intensified competition from year’s end sales.

The South Korean giant posted 1.56 trillion won in operating profits, which soared by 1 trillion won compared to a year ago. It is the company’s best quarterly performance since the second quarter of 2016 when it posted 1 trillion won in operating profits. Samsung said that the pent up demand following the COVID-19 pandemic spurred growth.

The company is expected to launch two new foldable smartphones very soon, one of them being the W21 5G. The new foldable smartphone is expected to launch in China on November 4 and is likely to be identical to the Galaxy Z Fold2.

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The other foldable smartphone tipped to launch soon is the Galaxy Z Flip successor. Details about the foldable smartphone are currently scarce at the time of writing this.
Moneycontrol News
first published: Nov 2, 2020 10:35 am
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