In December we reported on a statement by Samsung Electronics President Young Sohn that the company managed to sell 1 million of the troubled Samsung Galaxy Fold handset.
That statement was rapidly retracted who told Korea’s Yonhap News Agency that this number was in fact incorrect and that Sohn had mixed up Samsung’s sales 2019 target with the actual sales figures.
The unnamed spokesman did not reveal the actual number sold, except to confirm it was less than 1 million, but Korean analysts suggest between 400,000 and 500,000 of the $1980 Galaxy Fold handsets were sold this year, which is still an impressive number for a very boutique device with a troubled history.
Now at a CES session CEO DJ Koh during has confirmed that the 400,000 and 500,000 units range is indeed accurate, reports YonHap news.
“I think we’ve sold 400,000 to 500,000 Galaxy Fold smartphones,” Koh Dong-jin, President and CEO of Samsung’s IT & Mobile Communication Division, told reporters at Consumer Electronics Show (CES) 2020 in Las Vegas.
While this number is far off the target, it is clear that the demand for Samsung’s foldable is there, given that despite its huge price tag, the Fold sold out instantly in some areas.
Despite not hitting their target Samsung is already working on the Galaxy Fold 2, which is expected to be a cheaper, more robust device, which should presumably do even better in the market.
“Samsung is expected to sell 6 million units of its foldable phone in 2020 and 20 million units in 2021,” Choi Bo-young, an analyst at Kyobo Securities, said. “Prices of foldable phones are expected to go down gradually, and this would push up demand for foldable handsets.”