Samsung forecasts production of at least 1 million foldable phones this year.
The launch of the device comes as the world’s biggest phone maker tries to lure back consumers who have become used to incremental upgrades and are being wooed by Chinese manufacturers’ lower-priced smartphones.
Samsung, which also produces memory chips and televisions, makes the foldable displays itself and supplies technology to rivals such as Apple. The South Korean company shipped 291.3 million phones last year while Huawei sold 205.8 million, according to Strategy Analytics. Samsung will probably sell more than 40 million units of its flagship Galaxy S10 in the first year of release, according to Counterpoint.
Samsung spent eight years developing the Galaxy Fold and has worked with Google to adapt the Android operating system for a foldable screen. The company also envisions smartphones with rollable and stretchable displays in the future, Samsung Executive Vice President Chung Eui-suk said on the corporate website last month.
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