Samsung likely to sell 5 lakh Galaxy Z Fold 2 units this year

The upcoming foldable smartphone Galaxy Z Fold 2 from Samsung is expected to sell around 500,000 units this year, larger than its predecessor, a new report said on Wednesday.

The South Korean tech giant will introduce the latest handset, which folds horizontally like a book, at the ‘Galaxy Unpacked’ online event on Wednesday, along with 4 other devices, including the Galaxy Note 20 and the Galaxy Watch 3.

Regarding its sales forecast, market research firm Counterpoint Research said that Samsung is expected to sell 5 lakh units of the Galaxy Z Fold 2 by the end of this year, 1 lakh units more than the Galaxy Fold’s sales in its debut year.

The Galaxy Fold was launched in September last year and was sold in around 60 countries by the end of 2019.

Counterpoint Research said sales of the Galaxy Z Fold 2 will be better than its predecessor, which suffered supply problems regarding display and hinge issues, reports Yonhap news agency.

However, the market tracker predicted that sales of the Galaxy Note 20 series are likely to be lower than its predecessor Galaxy Note 10 phablets.

Samsung is projected to sell 8.5 million Galaxy Note 20 devices in its debut year, 5 lakh units lower than the Galaxy Note 10’s first-year sales owing to coronaviru pandemic, according to Counterpoint Research.

Industry insiders expect that the company will showcase five products — the Galaxy Note 20 phablet, the Galaxy Z Fold 2 foldable smartphone, the Galaxy Watch 3 smartwatch, the Galaxy Buds Live wireless earbuds and the Galaxy Tab S7 tablet at the event.