Samsung SA ventures forth with foldables despite market decline

Foldable smartphones have always been a niche product and demand for them has slowed down globally. But Samsung is persisting. By Lindsey Schutters

- Lindsey Schutters

Samsung's recent increase in the prices of the Galaxy Fold 7 and Flip 7, and axing of the 256GB Fold 7 variant from its South African online store, was confusing, especially when its channel partners are still offering the devices at the launch price.

"Fold users typically remain the most loyal... They upgrade more and they upgrade faster," Samsung Mobile SA's vice-president for mobile, Justin Hume, said in an interview at the local launch event. "The base is growing every year."

Samsung is banking, once again, on loyalists with deep pockets, an expanding ecosystem and some health tech to keep its margins intact.

Globally, foldable smartphones are hitting turbulence. In the first quarter of this year, foldables made up just 1.5% of total smartphone sales in Europe, with year-on-year growth of only 4%, according to Counterpoint Research.

It's a sharp slowdown from previous years, and some analysts are calling it a warning sign. "Most consumers are still not sure what a foldable phone is for," said Counterpoint associate director Jan Stryjak, "and many still have concerns about durability and longevity."