Given growing demand for its foldable devices like Galaxy Z Fold 3 and Z Flip 3, Samsung plans to increase its production capacity by 50 percent.
Earlier, one of its executives shared some predictions for selling its new foldable phones.
Accordingly, Samsung Display Co. will be in the front line of the effort with a 47 percent hike in production, raising the total units to 25 million compared to 17 million at present. The project will start in its plant in Vietnam.
If successful, Samsung could churn out 10 million units of Z Fold and15 million units of Z Flip phones each year.
According to a source close to the company, Samsung’s factories that make foldable devices are already operating at full capacity. Samsung has no option but to expand its facilities. It will likely add three more production lines to its current seven, which will allow the company to manage the production volume more flexibly.
Samsung’s new foldable phones gaining ground
The popularity of new foldable devices is beyond the expectation of the Korean company. It acquired 920,000 pre-orders in South Korea, more than 1 million in China, and the demand in the US was much more than the previous generation.
Though the company already manufactured 3 million Galaxy Z Fold 3 and Z Flip 3 units in the past two months, it has to launch new lines to meet demand.
For now, as an absolute king of the foldable devices market, Samsung is forecast to win more market share in the next few years.
According to the Display Supply Chain Consultants (DSCC)’s prediction, companies in the industry would produce 16.4 million units of foldable displays in 2022 to meet rising demand.
Thanks to continual efforts over the past three years, Samsung sold 500,000 foldable phones in its first year, then in subsequent years, it achieved such a tremendous success after listening to consumers’ feedback.
“Samsung, up to its second-generation models, failed to persuade consumers why they needed to fold and unfold their phones. But the new models largely resolved this issue with innovative designs.”, said an industry insider.
