It seems that Samsung intends to take the component supply issues head on, with the company going on to say that it will further expand its premium smartphone sales with the new Samsung Galaxy Z Flip 3 Bespoke Edition whilst selling the Galaxy S series.
Alongside this, it will proactively target replacement demand with a competitive mass-market 5G handset lineup, as well as increase sales of device ecosystem products, including PCs, tablets and wearables.
Why is Samsung Focusing on Foldables?
This comes after Samsung registered a revenue increase for its mobile division in the second quarter, with the IT and Mobile Communications Division posting KRW 28.42 trillion (over $24.2 billion) in consolidated revenue and KRW 3.36 trillion in operating profit (over $2.8 billion) for the third quarter (Q3).
Samsung has said that “Smartphone sales increased compared to the previous quarter thanks to strong sales of flagship models including Galaxy Z Fold3 and Galaxy Z Flip3, as well as enhanced mass-market lineup,” This comes after great response for its new foldable lineup.
Around 60% of Indian consumers have chosen to go for the Galaxy Z Fold 3 in the country, highlighting a rising wish for larger screens and productivity related features among Gen Z, with retailers saying that they no longer had stock for the Z series due to the rising demand.
“Looking ahead to the fourth quarter, market demand is forecast to increase quarter-on-quarter due to strong year-end seasonality, however, uncertainties over component supply are likely to persist,” the company has added.
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“The company will strive to achieve solid performance by strengthening the mass-market 5G lineup and device ecosystem business,” it added.
What Else is Samsung Doing?
In other news, the company has announced the Galaxy Z Flip 3 Bespoke Edition, which is a new take on smartphone configurations when it comes to design.
The Samsung Galaxy Z Flip 3 will come in five different hues that users can choose from, with two colours (black and silver) available for the frame. Customers can personalize their handsets on their own. Samsung says that 49 different takes are possible with this Bespoke Edition.
What sets the device apart is the fact that the top and bottom can be selected separately, with the back available in Black, Yellow, Pink, Blue and White.