According to Korean Media, this move is being done to offset Chinese competitors. Samsung Galaxy Z Flip 3 and Fold 3 are expected to have tough competition from Chinese competitors. Xiaomi, Vivo, and Oppo are all set to release their foldable phones soon. And that too at an affordable price. Or we can say at a much competitive price than Samsung. In a surprise move, Samsung is bringing Z fold 3, and Z Flip 3, on August 27, 2021, a month earlier than the planned release date, and likely at a 20% reduced price tag.
Samsung has a record of launching its foldable in September. The Z Fold was released in September 2019 and the Z Fold 2 was released in September 2020.
Xiaomi foldable is all set to come in the last quarter of 2021. Whereas Oppo foldable phone which was earlier planned to release in June 2021, is also expected to be revealed in the last quarter of 2021.
Samsung has also patented, Z tri-fold tab concept as well. A unique design but prices are expected to be in the upper range as well. Currently, the company is struggling to popularize the foldable and flip phone market.
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Samsung Strategy behind reduced price for Z Flip and Z Fold 3 Strategy
Samsung foldable phones are currently contributing a minute portion of the sales. So, Samsung is planning to reduce the price by 20 percent for Z Fold 3 and Z Flip 3. The sales of Samsung hs shrunk from 34.6 percent at the start of 2020, to about 12.7 in 2021, first quarter.
It’s interesting that Samsung is producing foldable displays for Xiaomi, Oppo, Vivo, and Google. But still, struggling to maintain its own foldable price than its competitors.
KB Securities analyst Kim Dong-won said.
“As the technology market is gaining maturity, growth has been difficult. Samsung is developing a strategy to expand mid to low-end product lines along with making its foldable phones affordable. Also, Samsung is planning to lower the cost of the latest Z Flip 3 and Z Fold 3 by a considerable amount”