Samsung announced the pricing information for the Taiwanese market at a press conference held on July 11. The Galaxy Z Fold6 and Galaxy Z Flip6 have both seen price increases of NT$3,000 across almost all specifications. Chen Chien-meng, General Manager of Samsung Electronics’ Mobile Communications Division in Taiwan, explained that factors such as inflation, exchange rates, hardware technology upgrades, and the addition of AI capabilities have all contributed to the price increases.
Despite facing intense competition 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 is as follows:
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: 7/11-7/24
Launch: 7/31
Last year, due to market competition and upgrade cycles, the Galaxy Z Fold5 and Galaxy Z Flip5 chose not to increase their prices. However, this year, they have both seen a price increase of NT$3,000.
Regarding the reasons for the price increase, Chen Chien-meng pointed out that in addition to market factors such as inflation and exchange rates, there have been significant upgrades in specifications. For example, the Z Fold, which used to be known for its weight, has managed to reduce its weight by 20 grams, reaching 239 grams with a larger screen and the addition of a stylus. It is even lighter than the S24 Ultra with a case. To test durability, rigorous tests including water resistance and drop tests from different angles were conducted, achieving an effect of 200,000 opening and closing cycles.
Despite raising prices in a relatively weak market, Samsung remains confident in its sales volume. Chen Chien-meng expects that foldable phone sales in Taiwan will increase by more than 20% in the second half of this year. He also mentioned that last year, their products already saw a 15% increase compared to the previous generation, so the team has confidence in achieving even better growth with the help of new technologies and Galaxy AI.
The foldable phone market is growing rapidly compared to regular smartphones. According to an IDC report, global foldable phone shipments are expected to reach 25 million units in 2024, with a 37.6% growth compared to last year. In Taiwan, the overall foldable phone sales grew by nearly 20% last year, with Samsung capturing 90% of the market share.
However, Samsung’s dominant position in the market is being eroded, especially by Chinese brand Huawei, which has rapidly gained market share. According to Counterpoint, Huawei’s foldable phone market share surged to 35% in the first quarter of 2024, compared to only 14% in the same period last year. Meanwhile, Samsung’s Galaxy Z series market share dropped from 58% to 23%.
Chen Chien-meng believes that Samsung’s foldable phones have three major advantages compared to Chinese brands. Firstly, they have strong partnerships with globally renowned companies, such as Google, to develop AI features. The wide range and practicality of AI applications are characteristics that he believes Chinese brands lack. Secondly, Samsung offers a complete ecosystem, with products ranging from smartwatches and earphones to the newly launched Galaxy Ring and even extending to home appliances. This enhances the interaction between phones and other products, providing a more comprehensive experience. Lastly, Samsung’s brand strength and consumer trust, as well as its focus on security, are more trusted by Taiwanese consumers compared to Chinese brands. Consumers are willing to spend more money on Samsung phones, and last year, Samsung saw a 15% growth in the high-end market segment above $600.
According to internal surveys conducted by Samsung, 20-30% of Z Fold5 and Z Flip5 users switched from other brands. The unique form factor of foldable phones has a greater appeal, and Samsung will continue to expand its territory through foldable phones.
Additional reading:
Video | Samsung AI Foldable Phone is here! Real-time translation on LINE, taking photos with just two taps on the smart ring, summarizing the highlights.