After Samsung discontinued the Galaxy Note series, many users (including us) said the company may have shot itself in the foot. However, it turns out that Samsung has been on the correct path all along. The South Korean firm has now announced that annual sales of its foldable smartphones have surpassed sales of the Galaxy Note series, which is a massive success as the ASP (Average Selling Price) of foldable phones is higher than the Galaxy Note series. This results in higher revenue and profits.
Foldable phones are finally mainstream as Galaxy Z series sales surpass Galaxy Note series
Samsung announced that annual sales of the Galaxy Z series have surpassed the Galaxy Note series in Europe. The recently launched Galaxy Z Flip 5 and Galaxy Z Fold 5 broke early sales records, surpassing their predecessors. Samsung claims that increasing sales of the Galaxy Z Flip and Galaxy Z Fold series show growing momentum for the foldable smartphone category and that foldable phones are now finally mainstream. Industry experts predict the sales of the Galaxy Z Flip 5 and the Galaxy Z Fold 5 to surpass 10 million units globally by the end of this year. Even in India, the Galaxy Z Flip 5 and Galaxy Z Fold 5 pre-orders have been 70% higher than previous year's foldable phones.
At Samsung's press conference on August 31 at the IFA 2023 event in Berlin, Benjamin Braun, Chief Marketing Officer of Samsung Europe, said, “Our latest foldable phones are selling super-fast. In fact, the annual sales of our foldable devices have exceeded the Note series in Europe.”
In Europe, the sales ratio between the Galaxy Z Flip 5 and the Galaxy Z Fold 5 was 7:3. The most popular color choices for the Galaxy Z Flip 5 were Graphite and Mint, while most Galaxy Z Fold 5 buyers chose Icy Blue and Phantom Black colors. The South Korean firm claims that most users have been captivated by the Galaxy Z Flip 5's bigger cover screen. Five years after releasing its first foldable phone, Samsung is still the only brand that has been selling foldable phones worldwide.
