Samsung predicts foldable smartphones to drive 30% of premium mobile revenue in India

Samsung foldable smartphones: Samsung, the Korean electronics giant, foresees that its newly launched foldable smartphones will represent around 30 per cent of their premium mobile revenue in India for this year, according to a senior executive's statement on Wednesday. Raju Pullan, Senior Vice President of Samsung India's Mobile Business, highlighted that the latest foldable offerings, the Galaxy Fold 5 and Galaxy Flip 5, have garnered pre-bookings worth Rs 1,500 crore, a figure 1.5 times higher than pre-bookings for previous-generation foldable smartphones.

"India has rolled out the red carpet for Galaxy Z Flip5 and Galaxy Z Fold5. Over 1.5 lakh consumers have pre-booked Galaxy Z Flip5 and Galaxy Z Fold5. We expect foldable smartphones to contribute over 30 per cent to our premium segment business this year, indicating the growing importance of the foldable category in India," said Pullan.

He also noted that individuals from various age groups are interested in these devices. Younger consumers are drawn to the Flip5's design, while those aged between 25 and 40 are opting for the Fold 5. This trend has established a substantial foldable device enthusiast base in India. Pre-bookings for the Galaxy Fold 5 and Flip 5 were open from July 27 to August 17.

Increasing demand from all across India

Pullan highlighted the robust demand for these devices from Tier 1 and 2 cities, revealing a 1.4 times growth compared to the previous year. Notably, Tier 3 and 4 towns have also exhibited comparable demand growth, underlining the increasing mainstream acceptance of foldables in India.

Image credit: Samsung

Global market insights provider Counterpoint Research projects that foldable smartphone shipments will rise from 78.6 million in 2026 to 101.5 million in 2027, with Samsung and Apple anticipated to dominate this segment. The firm envisions Apple's foldable iPhone debuting in 2025.

Samsung's Galaxy Fold 5 is priced between Rs 1.54 lakh and Rs 1.85 lakh, contingent on internal storage capacity ranging from 256 GB to 1 TB. The Galaxy Flip 5's price range is Rs 99,999 to Rs 1,09,999.

EMI making premium phones affordable

Pullan emphasised the expanding consumer base in Tier 3 and 4 cities, attributing it to the introduction of a 24-month EMI option, enhancing affordability. This payment option has notably driven growth in locations like Wapi and Ratlam.

Image credit: Samsung

With consumers showing a preference for the 512 GB internal storage variant of the Fold 5, along with both Flip 5 models featuring 256 GB and 512 GB options, Pullan also highlighted technological advancements attracting upgrades from previous models.

Market research firm Techarc's estimates predict that foldable smartphones, including flip variants, will contribute over 1.8 per cent of total smartphone revenues for 2023 in India. This translates to approximately 6.35 lakh foldable smartphones being sold, accounting for less than 0.5 per cent of total sales by volume estimated for the same period.