Samsung Electronics unveiled its first multi-folding smartphone, the Galaxy Z TriFold, on Tuesday, aiming to strengthen its position in a competitive phone market. This launch comes as Chinese rivals have been gaining traction in the foldable segment, although analysts suggest that high prices and production challenges will likely keep foldable devices as a niche category for the time being.
The Galaxy Z TriFold is priced at approximately 3.59 million won and unfolds into a 253.1 mm (10-inch) display using three panels, making it nearly 25% larger than Samsung’s latest foldable, the Galaxy Z Fold 7. Alex Lim, Executive Vice President and head of the Korea Sales & Marketing Office at Samsung Electronics, believes that the foldable market will continue to grow, and the TriFold could drive significant growth within key areas of this segment. Lim noted that the new device is targeted at customers who specifically want it, rather than as a mass-market offering. The TriFold, produced in South Korea, will be available domestically starting December 12, with plans to launch in China, Singapore, Taiwan, and the United Arab Emirates later this year. A U.S. launch is anticipated as early as the first quarter of next year. The device features Samsung’s largest battery in its flagship models and supports super-fast charging, reaching 50% battery in just 30 minutes. Lim mentioned that rising costs for memory chips and other components have made pricing decisions challenging.
Analysts have indicated that the TriFold is more likely to showcase new technology than drive high volumes. Ryu Young-ho, a senior analyst at NH Investment & Securities, noted that as a first-generation product, the TriFold is pioneering in its design, which makes it difficult for Samsung to push high volumes at this stage. While Samsung’s Galaxy Z Fold line has matured over seven generations with lower cost structures, the TriFold may face challenges regarding its completeness and durability, making it essential to monitor market response.
Competition in the foldable smartphone market is expected to intensify, especially with Huawei having launched the industry’s first three-way folding phone last September, and Apple expected to release its first foldable next year. Despite this competition, analysts predict that high prices and limitations in mass production will likely restrain market growth. Foldable phones are projected to account for less than 2% of the total smartphone market this year, with an expected increase to under 3% by 2027, according to Counterpoint Research. Samsung’s market share for foldable devices surged to 64% in the third quarter, up from just 9% in the previous quarter, highlighting how market share can fluctuate based on the timing of product launches.