Samsung’s mobile chief Roh Tae-moon recently explained in a comment to The Wall Street Journal why smartphones with flexible screens are so important to the company’s business.
As Roh points out, Samsung’s foldable smartphones attract three times more switchers than the regular Galaxy S models. That means people are leaving other manufacturers, whether it’s Apple, Xiaomi or Oppo, and buying Samsung smartphones instead.
“We consider this to be a quite meaningful percentage and a positive sign,” Roh told The Wall Street Journal. “This is about switchers from other brands, not Samsung Galaxy device users switching to another Galaxy device.”
According to its latest earnings call, Samsung hopes to make switching from other brands commonplace. In the second half of the year, the company aims to achieve sales of foldable smartphones to exceed the sales of the previous flagship model Galaxy Note, which has become the last in its series so far.
Foldable devices continue to be the fastest-growing smartphone category this year, according to Counterpoint Research, which expects shipments of foldable models to grow 73% to 16 million units.
Counterpoint also found that Samsung’s share of the flexible-screen smartphone market in the first half of this year was 62%, although no other manufacturer supplies foldable devices to as many markets as Samsung. Counterpoint expects Samsung to hold 80% of the market in the second half of the year.