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Samsung is expecting to sell around 260 million smartphones this year and aims to sell about 270 million units in 2023, according to a new report out of its home of Korea. The company’s device sales peaked back in 2017 at 320 million units, and it’s not gone over 300 million ever since.
The current estimate of 260 million units sold in 2022 is about 10 million more than last year, and the company wants to grow that by 10 million again next year. In order to do this, it will reportedly focus a lot on foldables, which can help it grow its profitability rather than sheer sales volumes overall.
Instead of giving up on profitability by trying to move as many cheap devices as possible in 2023, it will allegedly change gears to “defend profits” by increasing the proportion of premium products it sells. This is where foldables are as of yet unrivaled for the company, with it forecasting an average annual growth rate for them of 80% by 2024. Samsung aims to ship 60 million units of its premium S and Z series, and 210 million units of the A series next year.
Regarding foldables specifically, however, its plans may be derailed if one or more Chinese smartphone makers finally decide to launch their foldables internationally, where Samsung currently rules unencumbered. Those competitors can and most likely will challenge Samsung’s reign on pricing grounds, and thus may force it to issue some cuts in those all-too-delicious profit margins.
The report goes on to mention that next year’s Samsung Galaxy Z Flip and Fold devices will come with improved designs, better durability, and a less noticeable screen crease.
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