We reported yesterday on a statement by Samsung Electronics President Young Sohn that the company managed to sell 1 million of the troubled Samsung Galaxy Fold handset.
“And I think that the point is, we’re selling [a] million of these products,” said Young Sohn. “There’s a million people that want to use this product at $2,000.”
Not so fast it seems. Samsung PR has now stepped in to retract the material statement, telling 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.
It’s 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.”
Here’s hoping Samsung will not fold on that number too.