November 21, 2024

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The initial production volume of Samsung Electronics’ Galaxy Fold smartphone for the Korean market is expected to come in at 20,000 to 30,000, according to news reports on July 29.

Samsung is currently fine-tuning the release schedule of its first foldable smartphone with telecom companies in South Korea, and it will likely be released between September 18-20.

Market watchers forecast that the tech firm would roll out a total of 100,000 units in the Korean market, which will be one-tenth of the entire Fold units planned for global markets.

Samsung previously announced that its entire production of the Fold will reach some 1 million units.

“Samsung is seeking to tout its technical prowess rather than focusing on high-volume sales with the Fold,” an official from a local telecom firm was quoted by media outlet Yonhap News Agency as saying.

“The foldable device is also aimed at testing the new market,” the official added.

Because of the new smartphone’s high price tag and concerns over durability, there is a lot of skepticism. The Fold, expected to be priced at more than 2 million won ($1,689), will likely be able to appeal to a very limited number of consumers who are willing to pay for the limited edition. In April, Samsung put off the release of the phone after finding technical flaws in the its display and hinge that connects its right and left halves.

After launching the smartphone in the US and Korea first in September, it is expected to be available in global markets, including the UK, Germany and France.

On Aug. 7, the Korean tech giant is scheduled to hold its annual “Unpacked,” event in New York, where it will take the wraps off the Galaxy Note 10.

By Kim Young-won (wone0102@heraldcorp.com)