Samsung Galaxy Z foldable's pre-sales soars 40% rise in India

Samsung Electronics Co.'s latest foldable phones showed strong sales potential in India, the world's most populous country, with pre-sales for the Galaxy Z Fold6 and Flip6 up around 40% from their predecessors.

The initial 24-hour pre-order sales for the Fold and Flip6 in India, which started on July 10, were 40% higher than those for the Galaxy Z Fold5 and Flip5 during the same period, Samsung Electronics said on Wednesday.

India is estimated to be the world's second-largest smartphone market, experiencing double-digit growth rates annually.

Historically, India has been known for its high demand for mid-range and budget phones.

In response, Samsung Electronics has continuously launched budget models like the Galaxy F15, Galaxy M14, Galaxy M15, Galaxy A35, and Galaxy A55 in the Indian market, in addition to its flagship Galaxy S24 series earlier this year.

Thanks to this strategy, Samsung Electronics has consistently maintained the top spot in the Indian smartphone market.

According to market research firm Canalys, Samsung Electronics has retained its number one position since overtaking China’s Xiaomi in the fourth quarter of 2022 and continued to be in the top two positions through the first quarter of this year.

However, the Indian market is increasingly shifting towards premium high-end phones this year. Samsung Electronics has also increased its shipment of the Galaxy S24 series to India in the first half of the year compared to its predecessors.

According to market research firm Counterpoint Research, in the first quarter of this year, the proportion of smartphones priced above 30,000 rupees ($359) reached a record high of 20%.

In terms of revenue, high-end smartphones accounted 51%.

The average selling price (ASP) of Samsung Galaxy phones in India also reached a record high of $425.

Write to Jeong-Soo Hwang at hjs@hankyung.com