Samsung promises to make foldable phones more mainstream

Ahead of its highly anticipated Galaxy Unpacked event this August 11, Samsung has released its earnings report for the previous quarter. Though the reported figures show some impressive progress for the company, Samsung surprised even more by detailing what it’s planning to improve for the future: making foldable phones mainstream.

The recent earnings report tells two sides of a story. On the one hand, the company declined from the previous quarter by making only US$ 2.8 billion in profit, compared to the previous quarter’s US$ 3.83 billion. Though it’s a considerable decline, it’s not that much of a surprise. The smartphone market has certainly gotten over the hype from the Galaxy S21 series’ launch earlier this year. It’s still quite a sharp decline, though.

On the other hand, the quarter’s figures are an impressive improvement from last year’s earnings from the same quarter. The company only made US$ 1.7 billion in profit this time in 2020, marking a 66 percent YoY increase. Samsung’s bounce back from the horrendous pandemic era is apparent.

The company is attributing the success to its several branches including semiconductors and smartphones. However, to bolster its hold in the smartphone industry, Samsung’s goal is to “mainstream the foldable category.”

Given the company’s plans for the near future, this is indeed true. Samsung’s TM Roh has already confirmed that the upcoming Galaxy Unpacked event will launch more foldables in the Galaxy Fold series, rather than a new Galaxy Note series. Samsung is looking for stronger players in the fairly new market segment.

SEE ALSO: Samsung Galaxy Z Fold 3: Could these be the specs?

The post Samsung promises to make foldable phones more mainstream appeared first on GadgetMatch.

Samsung promises to make foldable phones more mainstream Samsung promises to make foldable phones more mainstream Reviewed by Telenor Editorial on July 29, 2021 Rating: 5

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