Samsung Electronics is seeking to regain its position in China by rolling out new smartphones, including the Galaxy Fold Foldable Phone and 5G models.
By Kim Eun-jin
Industry officials said on Oct. 22 that Samsung Electronics will release a wide array of smartphones in China in October and November. It plans to differentiate itself by unveiling various 5G smartphones.
The company already released the Galaxy Note 10 series last month, along with its recently launched Galaxy A90, its entry-level 5G phone. Next month it will come up with the W20, a premium 5G flip phone.
The Galaxy Fold, a foldable phone, is also expected to be unveiled in China next month. As Huawei will also roll out its own foldable phone “Mate X” on Oct. 23, the two foldable devices are likely to compete against each other in the market.
Both companies plan to sell a limited number of foldable phones to show off technological prowess. The market for foldable phones is expected to grow fast starting next year. According to the IHSMarkit, a market research firm, the foldable phone market next year will amount to about 3 million.
In addition, entry-level smartphone Galaxy M30s will also be launched in China with prices set in the 200,000 won range. The Galaxy M series have already won popularity in India owing to their low prices and high performance. The Galaxy M30s features a massive 6,000 mAh battery, with a low price of 1, 699 yuan (about 280,000 won).
Samsung Electronics is betting on 5G and foldable phones for its revival in China. China is one of the world’s largest markets, but Huawei and Apple are leading the market. Particularly, Huawei concentrates its efforts on the domestic market in the wake of the restrictions of the United States on China, and Apple enjoys the success of iPhone 11 series.
Against the backdrop, it is getting harder and harder for Samsung to expand its market share in China. The company’s market share fell from 4.9 percent in 2016 to 2.1 percent in 2017 and further to 0.8 percent in 2018.
By Kim Eun-jin http://www.businesskorea.co.kr