Samsung believes that there is a high demand for its foldable devices, and the company wants to increase production capacity by 50%.
Currently, there is a lot of buzz around Galaxy Z Fold 3 and Z Flip 3, and Samsung predicts to sell a good number of these devices. One of Samsung’s executives previously shared some keynotes about the company’s predictions for selling its new foldable phones.
Samsung Display is at the forefront for increasing production. According to the source, Samsung Display Co. will experience a 47% production increase. This will help the company to produce 25 million units annually compared to 17 million today. The project starts in Samsung’s plant in Vietnam.
As per predictions, if Samsung can successfully implement its expansion project, it can produce 10 million units of Z Fold and 15 million units of Z Flip phones each year.
“Samsung’s factories that make foldable devices are already operating at full capacity. Samsung has no option but to expand its facilities. It will likely add three more production lines to its current seven, which will allow the company to manage the production volume more flexibly,” noted a source close to the company.
Samsung’s new foldable phones are exploded in popularity
The demands for new foldable devices were beyond the expectation of the Korean company. In South Korea, Samsung received 920,000 pre-orders, and also more than 1 million pre-orders for new devices were made in China. Moreover, in the United States, the demand for Samsung’s new foldable phones was more than the previous generation.
Samsung knows that it has a hard job to meet the demands. The company first produced 3 million Galaxy Z Fold 3 and Z Flip 3 in the past two months. However, the customers are so enthusiastic that the company has to launch new product lines.
Samsung is now the absolute king of the foldable devices market, and almost no company can ever compete with it. The Korean company will continue to conquer more market share in the next few years.
The Display Supply Chain Consultants (DSCC) predicted that the companies would produce 16.4 million units of foldable displays in 2022 to meet the growing demands.
Samsung’s success today is the result of three years of continuous effort. The company sold only 500,000 foldable phones in its first year. But in the following years, by listening to customer feedback, it achieved such a huge success.
As per a smartphone industry official, “Samsung, up to its second-generation models, failed to persuade consumers why they needed to fold and unfold their phones. But the new models largely resolved this issue with innovative designs.”