Samsung held a press conference in Taiwan on July 11th to announce the pricing for the Taiwanese market. The Galaxy Z Fold6 and Galaxy Z Flip6 have both seen an increase in price of nearly NT$3,000 across all specifications. Chen Qimeng, General Manager of Samsung Electronics’ Mobile Communications Division in Taiwan, explained that factors such as inflation and exchange rates, as well as hardware advancements and the addition of AI, have led to the price increase.
Despite fierce competition from Chinese brands such as Huawei, OPPO, and Xiaomi, Samsung remains confident that the sales of this generation of foldable phones will increase by 20%.
Pricing Information for Taiwan:
Galaxy Z Fold6:
12GB/256GB – NT$59,888
12GB/512GB – NT$63,888
12GB/1TB – NT$70,888
Galaxy Z Flip6:
12GB/256GB – NT$35,888
12GB/512GB – NT$39,888
Pre-order: July 11th – July 24th
Release: July 31st
Last year, the Galaxy Z Fold5 and Galaxy Z Flip5 chose to freeze their prices under market competition and replacement cycle pressures. However, this year, they have increased in price by NT$3,000.
Regarding the price increase, Chen Qimeng pointed out that in addition to market factors such as inflation and exchange rates, there have been upgrades in specifications. Particularly, significant efforts have been made in hardware technology. For example, the Z Fold, which used to be criticized for its weight, has reduced its weight by 20g to 239g while equipped with a larger screen and a stylus. It is even lighter than the S24 Ultra with a case. Stringent tests have also been conducted to ensure durability, including testing in water environments and dropping from different angles, achieving an effect of 200,000 open and close cycles.
Despite raising prices in a relatively weak market, Samsung remains confident in its sales volume. It is expected that the sales of foldable phones in Taiwan will increase by more than 20% in the second half of this year. Chen Qimeng stated that the products grew by 15% compared to the previous generation last year, so the team is confident that with the help of new technologies and Galaxy AI, they will achieve even better growth.
While the foldable phone market is growing rapidly compared to regular smartphones, with IDC’s report predicting that global foldable phone shipments will reach 25 million units in 2024, representing a growth of 37.6% compared to last year, the market is also being shared by Chinese brands. According to Counterpoint’s data, Huawei’s market share in the foldable phone market surged to 35% in the first quarter of 2024, compared to only 14% in the same period last year. Samsung’s market share for the Galaxy Z series dropped from 58% to 23%.
Analyzing the three advantages of Samsung’s foldable phones, Chen Qimeng believes that compared to Chinese brands, Samsung has three major advantages. Firstly, it has partnerships with globally renowned manufacturers, such as Google, for the development of AI features. The extensive and practical application of AI is a characteristic that Chinese brands lack. Secondly, Samsung has a complete ecosystem. Its product line covers smartwatches, earphones, and recently launched products such as the Galaxy Ring, even extending into the home appliances sector. This enhances the interaction between phones and other products, providing a more complete user experience. Thirdly, Samsung has strong brand power and consumer trust. Compared to Chinese brands, Samsung’s brand power and data security are trusted by Taiwanese consumers, who are willing to spend more to purchase Samsung phones. Last year, Samsung’s growth in the high-end market, priced above $600, was 15%.
According to internal surveys conducted by Samsung, 20-30% of Z Fold5 and Z Flip5 users switched from other brands. The unique form factor of foldable phones has a stronger appeal than regular smartphones, and Samsung will continue to expand its territory through foldable phones.
Extended reading:
Video | Samsung AI foldable phone is here! Instant translation on LINE, take photos with a smart ring by tapping twice, highlighting all at once.
Editor: Li Xiantai