Samsung Electronics aims to achieve its highest-ever sales for the Galaxy Z foldable series this year, driven by accumulated technological expertise and a deep understanding of customer needs. Roh Tae-moon, President and Head of the MX Business at Samsung, expressed confidence in the company’s unique competitive edge, stating that rivals cannot easily replicate the advancements made over the past seven years in foldable technology.
Ambitious Sales Target for 2024 Galaxy Z Lineup
At a press conference following the Samsung Galaxy Unpacked 2024 event in London, Roh Tae-moon outlined the company’s strategy for its foldable business. This year marks the first time Samsung is launching three distinct foldable models simultaneously: the Galaxy Z Fold 8, Galaxy Z Fold 8 Ultra, and Galaxy Z Flip 8. Roh emphasized that this comprehensive lineup is designed to cater to a wider range of consumers and drive unprecedented sales volume.
“This year is the first time we are introducing three completed foldable models together,” Roh stated. “With the Galaxy Z Fold 8 adding new demand, our goal for the Z series this year is to achieve the highest sales ever for a foldable phone.” He views the potential entry of competitors like Apple into the foldable market not as a threat, but as a sign of the technology’s maturation and growing mainstream appeal.
Samsung’s Dominance in the Foldable Market
Roh elaborated on this perspective, saying, “The entry of more companies into the market signifies that foldables have already become a major trend. As competition intensifies, we will continue to set new standards, staying one step ahead.” He asserted Samsung’s position as a pioneer, highlighting the company’s over seven years of accumulated technological prowess and customer insights as an unassailable competitive advantage.
The new Galaxy Z8 series incorporates refined ‘Flex Titanium’ technology, significantly enhancing the durability of the devices. The Galaxy Z Fold 8 Ultra boasts a thickness of just 4.1mm when unfolded, while the Galaxy Z Flip 8 measures 6.1mm, making them the thinnest and lightest foldable form factors ever produced by Samsung.
Pricing Strategy and Supply Chain Management
Addressing concerns about potential price increases due to rising component costs, Roh assured that Samsung has minimized the burden on domestic consumers. “The love of Korean consumers is the foundation of our global competitiveness,” he explained. “Considering the importance of the domestic market, we have set prices that are not burdensome compared to other major global markets.”
Regarding the challenges of memory chip supply chain disruptions and rising costs, Samsung plans to navigate these issues through close collaboration with its partners. Roh stressed that leveraging over 30 years of established trust, the company aims to minimize supply chain disruptions and mitigate the impact of cost increases.
The Future of Foldables: AI Integration and Ecosystem
Artificial Intelligence (AI) is identified as the next crucial competitive advantage for foldables. Roh announced plans to provide Galaxy AI to 800 million users within the year, envisioning a transition from simple question-and-answer capabilities to ‘agentic AI’ that can perform tasks on behalf of the user.
Samsung’s diverse ecosystem, encompassing smartphones, watches, and home appliances, is presented as a distinct strength. Roh stated that the company aims to provide deeply personalized AI experiences by understanding customers at various touchpoints connected to their daily lives.
Security is paramount, with Samsung committed to the ‘on-device’ processing approach, storing sensitive personal data locally within the device. This method prioritizes trustworthiness, allowing users to directly verify and control the AI’s operations.
Digital Health and Personalized Wellness
Key AI applications extend to digital healthcare, covering not only sleep and exercise but also vital signs such as heart rate and skin temperature. Roh highlighted Samsung Health’s direction: “The focus of health management is shifting from treatment to prevention. By combining AI and digital health technology, we will offer even more personalized health experiences.” This initiative aims to transition the core of health management from reactive treatment to proactive prevention.
The company’s strategy emphasizes leveraging its extensive device ecosystem and advanced AI capabilities to create a seamless, integrated user experience. This approach aims to solidify Samsung’s leadership in the rapidly evolving foldable smartphone market and the broader mobile technology landscape.
Samsung’s commitment to innovation in foldable technology, coupled with its strategic integration of AI and a robust ecosystem, positions the company to meet its ambitious sales targets and redefine user expectations for mobile devices.
