What you need to know
- Samsung reports that it has amassed 1.02 million foldable preorders in South Korea, shattering its previous record of 970,000.
- The majority of them, 70%, fall into the Galaxy Z Flip 5's corner.
- Samsung estimated 30 million foldables sold in 2023 but sold its Flip 5 short by only anticipating it would account for 65% of those sales.
Samsung's latest wave of foldables was revealed to the world two weeks ago, and the devices have seemingly caught consumers' attention on home soil. According to the South Korean publication Yonhap News, Samsung has reported 1.02 million foldable units have been preordered.
The company adds that the Galaxy Z Flip 5 is by far the winner, accounting for 70% of the total preorders thus far after consumers were able to do so on August 1.
Despite Samsung only revealing the devices a couple of weeks ago, the preorder wave has shattered its previous preorder record of 970,000 units.
Samsung's interest in how well its foldables perform was a topic of discussion with the company's mobile chief TM Roh when he discussed the work being put in to incorporate dust resistance for the devices. Roh estimated the company would reach "30 million units in cumulative global sales" in 2023. However, he added that the Flip 5 would likely take the cake and account for an estimated 65% of those sales.
We're now seeing the Flip 5 surpass that estimation by 5%, which matches the performance of the brand's Flip 3 performance in 2021.
Furthermore, Samsung's German Newsroom posted about the "rising popularity" it has observed for the company's foldables. It states sales figures in advance have increased by 50% compared to the Galaxy Z Flip 4 and Galaxy Z Fold 4.
Unlike the Fold 5, the clamshell foldable offered something a little different this time as Samsung upgraded its cover display. The Flip 5 now features a 3.4-inch cover display that gives consumers a lot to do on the display, such as checking emails and messages (even videos) without needing to open their phones.
Both devices have been outfitted with a new hinge which aids in reducing that dreaded screen gap while folded closed.
Moving forward, it might be worth keeping an eye on Samsung's Q3 performance. The company moved up its Unpacked event from August to July to boost its performance going into the next quarter. And, as foretold, Samsung saw quite a bumpy Q2 as its earnings report detailed its drop in shipments and revenue. However, the company remains adamant that Q3 will be brighter.
Samsung's Galaxy Z Flip 5 delivers a larger, 3.4-inch AMOLED cover display with goodies that make keeping your phone closed feel easy. Users can interact with messages, videos, emails, and more from its new cover. Inside, the Flip 5 offers a 6.7-inch display and an improved hinge to increase its foldable durability and keeping the screens closer together.
