Samsung Galaxy Fold didn’t get off to the greatest of starts, but that hasn’t deterred the public faith in the device. Despite being announced in February, the Galaxy Fold only made it to shelves in September. However, Samsung has already managed to sell over one million foldable smartphones.
When you look at some of the figures coming out of Xiaomi and Realme camps, one million may not seems like a lot, but considering the Galaxy Fold’s hefty price, it’s quite the achievement. Price aside, the foldable phone is a first generation of product, makes it all the more impressive.
Samsung made over $2 billion on Galaxy Fold sales alone, in a span of little over three months. Despite being a completely new product category, there were still over a million takers, which means another billion-dollar market has emerged. Currently, Huawei and Motorola are the only other major smartphone OEMs with foldable phones. However, that will undoubtedly change in 2019, after Samsung’s immense success.
The next-generation of foldable smartphones aren’t expected to be as expensive as the current generation, primarily because the cost of research and development is significantly reduced in second-generation products. Moreover, the price-competitive Xiaomi is also developing its own foldable phone.
While there hasn’t been any significant development in Xiaomi’s foldable handset, we may not have to wait long until a breakthrough. Moreover, the Xiaomi tradition of undercutting the competition could pave the way for a foldable smartphone that won’t shatter your wallet.Motorola also showed that a foldable phone doesn’t necessarily have to pack over-the-top specs with the Moto Razr. Lastly, LG’s dual-screen attachment was one of the most affordable alternatives to a foldable smartphone. Samsung itself expects foldable smartphone sales to hit six million in 2020. All things considered, the future of foldable phones looks brighter than ever.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.