Samsung unveiled the pricing information for the Taiwan market at its event on July 11th. The Galaxy Z Fold6 and Galaxy Z Flip6 have both seen an increase in price by almost NT$3,000 across all specifications. Chen Qiming, the General Manager of Samsung’s Mobile Communications Division in Taiwan, explained that factors such as inflation, exchange rates, hardware technology, and the integration of AI have all contributed to the price increase.
Despite facing intense competition in the foldable phone market from Chinese brands such as Huawei, OPPO, and Xiaomi, Samsung remains confident that the sales of this generation of foldable phones will increase by 20%.
Pricing Information for Taiwan:
Galaxy Z Fold6:
12GB/256GB – NT$59,888
12GB/512GB – NT$63,888
12GB/1TB – NT$70,888
Galaxy Z Flip6:
12GB/256GB – NT$35,888
12GB/512GB – NT$39,888
Pre-order: July 11th to July 24th
Available: July 31st
Last year, the Galaxy Z Fold5 and Galaxy Z Flip5 chose to freeze their prices due to market competition and upgrade cycles. However, this year, they have increased their prices by NT$3,000. Chen Qiming explained that in addition to market factors such as inflation and exchange rates, there have been upgrades in specifications. The hardware technology, in particular, has seen significant improvements. For example, the Z Fold, which used to be heavy, now weighs 239 grams, a reduction of 20g compared to the previous generation. It is even lighter than the S24 Ultra with a case. To test durability, the Z Fold underwent rigorous testing, including being used in water and dropped from different angles, achieving a durability of 200,000 open-close cycles.
Despite raising prices in a relatively weak market, Samsung remains confident in its sales volume. They expect the sales of foldable phones in Taiwan to increase by more than 20% in the second half of this year. Chen Qiming stated that last year’s products saw a 15% growth compared to the previous generation, so the team is confident that with the help of new technologies and Galaxy AI, they will achieve even better growth.
The foldable phone market is growing rapidly compared to regular smartphones. According to IDC’s report, global shipments of foldable phones are expected to reach 25 million units by 2024, with a growth of 37.6% compared to last year. In Taiwan, the overall sales of foldable phones grew by nearly 20% last year, with Samsung maintaining a 90% market share.
However, Samsung’s dominant position in the market is being challenged, especially by Chinese brand Huawei. According to Counterpoint’s data, Huawei’s market share in the foldable phone market surged to 35% in the first quarter of 2024, compared to only 14% in the same period last year. Samsung’s market share for the Galaxy Z series dropped from 58% to 23%.
Chen Qiming believes that Samsung’s foldable phones have three major advantages compared to Chinese brands. Firstly, Samsung has strong partnerships with globally renowned companies, such as Google, for the development of AI functions. The wide range and practicality of AI applications are features that Chinese brands lack. Secondly, Samsung has a complete ecosystem. Their product line includes smartwatches, earphones, and recently launched products like the Galaxy Ring, which extends to the home appliances sector, enhancing the interaction between phones and other devices and providing a more complete experience. Lastly, Samsung has a strong brand power and consumer trust. Compared to Chinese brands, Samsung’s brand power and security are more trusted by Taiwanese consumers, who are willing to spend more on Samsung phones. Last year, Samsung saw a 15% growth in the high-end market segment with prices above $600.
According to internal surveys by Samsung, 20-30% of Z Fold5 and Z Flip5 users switched from other brands, highlighting the strong appeal of these unique form factors. Samsung will continue to expand its presence through foldable phones.
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