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Samsung unfolds daring smartphone at US$2,000
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Samsung Electronics Co Ltd has wowed the smartphone industry with the first foldable screen, burnishing its innovation credentials, banishing “fast follower” criticism and, at nearly US$2,000, setting a new standard in premium pricing.
The South Korean tech giant’s Galaxy Fold resembles a conventional smartphone but opens like a book to reveal a second display the size of a small tablet at 18.5 centimeters. It will go on sale from April 26.
“I am blown away,” said Patrick Moorhead of Moor Insights & Strategy, adding the phone could help Samsung rejuvenate its mobile business, whose lead is challenged by China’s Huawei Technologies Co Ltd.
“I believe you can innovate your way out of a mature market,” he said, noting that when Apple Inc launched the iPhone in 2007, most industry watchers believed the market had matured for US$100 “candy bar” phones without touch screens.
Bob O’Donnell of TECHanalysis Research said the work Samsung had done with Facebook Inc, Alphabet Inc’s Google and Microsoft Corp to adapt applications to the new screen was important.
He said although Samsung had teased the folding phone before, “to see it in action, to see the software — I was like, wow. It’s hugely important that the software experience be good.”
The phone, which can operate three apps simultaneously and boasts six cameras, also challenges the notion of what a phone can cost, debuting at nearly twice the price of current top-of-the-line models from Apple and Samsung itself.
“Due to price, it’s likely to be sold mainly to early adopters. Prices are key to expanding sales,” said former Samsung mobile executive Kim Yong-serk, who is now a professor at Sungkyunkwan University in South Korea.
“It will help Samsung burnish an image as an innovative company, but it is unlikely to be profitable. I expect Apple to wait, say for one year, and come up with foldable phones with more features, as they did with the smartwatch,” he said.
Brokerage Hana Investment & Securities expects Samsung to sell 2 million foldable phones this year, while another brokerage expects shipments to reach 1 million — both estimates less than 1 percent of the 291 million smartphones Samsung sold last year.
“The success of a foldable phone depends on whether it can take up demand from tablet users,” Meritz Securities analysts said in a note to clients.
“We believe it will be difficult to achieve meaningful sales with a 7.3-inch screen.”
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