Samsung to expand premium foldable smartphone, affordable 5G lineup
New Delhi
28-October-2021
Despite component supply constraints across the industry, Samsung said on Thursday that it will further expand premium smartphone sales with Galaxy Z Flip3 Bespoke Edition while continuing sales momentum of the Galaxy S series.
Samsung has registered revenue increase for its mobile division from the second quarter. The IT and Mobile Communications Division posted KRW 28.42 trillion (over $24.2 billion) in consolidated revenue and KRW 3.36 trillion in operating profit (over $2.8 billion) for the third quarter (Q3).
"Smartphone sales increased compared to the previous quarter thanks to strong sales of flagship models including Galaxy Z Fold3 and Galaxy Z Flip3, as well as enhanced mass-market lineup," Samsung said.
The company has received tremendous response in India for its new foldable line-up.
Nearly 60 per cent of the Indian consumers have gone for the pricier Galaxy Z Fold3 in India, showing a rising inclination for the big screen and productivity features among young millennial and Gen Z users.
Dealers and retailers had said last month that they were left with no stock of Galaxy Z Series amid rising demand.
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Device ecosystem products such as wearables have also continued material growth for the company.
"Looking ahead to the fourth quarter, market demand is forecast to increase quarter-on-quarter due to strong year-end seasonality, however, uncertainties over component supply are likely to persist," the company added.
The company said that in 2022, amid uncertainties over Covid-19, the smartphone and wearable markets are expected to continue growing.
"The company will strive to achieve solid performance by strengthening the mass-market 5G lineup and device ecosystem business," it added.
Looking ahead to the fourth quarter, the company also expects higher demand for TVs quarter-on-quarter due to year-end seasonality - IANS
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