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Samsung is counting on foldables to avoid being thrashed by Apple in home country

Updated: Jul 29, 2023, 11:35 AM

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Samsung is counting on foldables to avoid being embarrassed by Apple in home country

Samsung recently presented to the world its latest foldable smartphones - the Galaxy Z Fold 5 and Z Flip 5 - and it hopes to win over young consumers with the form factor.

Multiple reports have said that American teenagers overwhelmingly prefer the iPhone over Android phones. So strong is the brand affinity that many young people believe that they would be shunned by their friends if they switch to Android.

More alarmingly, Samsung seems to be losing young customers to Apple in its home turf of South Korea. Even though Samsung is the dominant player in the country with an estimated market share of 63 percent, 60 percent of the young consumers aged between 18 and 29 own an iPhone and 41 percent of smartphone owners between the ages of 30 and 39 use an iPhone.

Samsung is counting on foldables to avoid being thrashed by Apple in home country

Samsung is definitely feeling the alarm bells ringing. In June, it opened a flagship retail store in Gangnam and branded it as a "playground for millennials and Gen Z."

In a break from tradition, the company held the summer Unpacked event in South Korea instead of the US. According to a new Korea Times report, Samsung Electronics President Roh Tae-moon said that the marketing team advised the company to hold the event in South Korea. The admiration that the domestic market has shown for the foldable category was one of the reasons why the event was kept in Korea.

The Korea Times report says that Samsung is optimistic that the new bendable phones will help attract young consumers. Roh said that the company will analyze the apps and functions that are used most frequently by young users and will optimize those functions.

Roh is proud of the fact the company reached its last year's goal of selling 10 million foldable smartphones and the company hopes to ship more than 30 million units this year. Research firms TrendForce and Counterpoint aren't as optimistic and expect the company to sell around 15 million foldable phones. So even though Samsung's new bendable phones will likely be one of the most popular foldable phones of the year, whether they will be the smashing hits Samsung wants them to be remains to be seen.

The company hopes that foldable phones will account for 20 percent of the overall sales globally. In South Korea, it aims for one of every three Galaxy phones sold to be foldable.

Grab Z Flip 5 and save 11%; get Fold 5 at Amazon

Purchase a Galaxy Z Fold 5 or Flip 5 at the world's largest online retailer, Amazon. The 256GB Z Fold 5 currently sells at its regular price, and the Z Flip 5 with 512GB of storage is $121 off in select colors.

$121 off (4%)

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Galaxy Z Fold 5 (256GB): now up to $540 off with a trade-in

The Galaxy Z Fold 5 with 256GB of storage is available for up to $540 off with a trade-in at the official Samsung store. Right now, no discounts are available without a trade-in.

$540 off (30%) Trade-in

$1259 ⁹⁹

$1799 ⁹⁹

Buy at Samsung

Galaxy Z Flip 5: save up to $540 with a trade-in

Trade in your old phone and get up to $540 off on a new Galaxy Z Flip 5. The deal is live at the official store and applies to the clamshell foldable with 256GB of storage. The same trade-in bonus is available for the 512GB model.

$540 off (54%) Trade-in

$459 ⁹⁹

$999 ⁹⁹

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Anam Hamid is a computer scientist turned tech journalist who has a keen interest in the tech world, with a particular focus on smartphones and tablets. She has previously written for Android Headlines and has also been a ghostwriter for several tech and car publications. Anam is not a tech hoarder and believes in using her gadgets for as long as possible. She is concerned about smartphone addiction and its impact on future generations, but she also appreciates the convenience that phones have brought into our lives. Anam is excited about technological advancements like folding screens and under-display sensors, and she often wonders about the future of technology. She values the overall experience of a device more than its individual specs and admires companies that deliver durable, high-quality products. In her free time, Anam enjoys reading, scrolling through Reddit and Instagram, and occasionally refreshing her programming skills through tutorials.