Much has been said about the Galaxy Fold's $2,000 price when the handset was first unveiled. Then the whole delay debacle happened and Samsung relaunched the phone with fixes at the same price tag. Many of the company's detractors thought that Samsung was being delusional.
However, the market responded positively. The Galaxy Fold would quickly sell out whenever it launched in a new market. Earlier estimates had suggested that more than 500,000 units had been sold. Samsung has officially confirmed now that it has in fact sold more than one million units of the Galaxy Fold. That's an impressive achievement for a first-generation device that requires special care.
One million people bought a $2,000 phone
Speaking at TechCrunch Disrupt Berlin, Samsung Electronic's President Young Sohn confirmed that Samsung has sold more than one million Galaxy Fold smartphones across the globe. “There’s a million people that want to use this product at $2,000,” he added.
Sohn made this revelation during a conversation about pursuing growth through innovation. He was explaining the company's process of releasing products to gain feedback. It goes without saying that the Galaxy Fold's launch has provided Samsung with valuable input which will help it develop its foldable smartphone strategy for the future.
His comments clearly indicate the experimental nature of the Galaxy Fold and the response from the market is evidence that people are looking for innovation in the smartphone market. It also gives confidence to Samsung as it now knows that customers will be more receptive to a foldable smartphone that's even cheaper.
Samsung is aiming to sell 6 million foldable smartphones next year. It could very well achieve that if the price was brought down so that it became attainable for more people. Samsung now has a clamshell Galaxy Fold in the pipeline.
It's expected to be unveiled alongside the Galaxy S11 in February 2020. Reports suggest that it's going to cost $850. Samsung may very well find a couple of million customers for the new Galaxy Fold at that price point if sales of the first-gen Galaxy Fold are any indication.
