Samsung may produce 8 lakh Galaxy Z Fold 2 smartphones this year

Seoul/New Delhi: Samsung Electronics may produce up to 800,000 Galaxy Z Fold 2 foldable smartphones this year as the South Korean tech giant looks to increase sales of foldable handsets with an expanded lineup.

Industry insiders said on Thursday Samsung is expected to produce 700,000 to 800,000 units of the Galaxy Z Fold this year, which is more than the first-year production volume of its predecessor Galaxy Fold, reports Yonhap news agency.

Samsung is likely to produce the Galaxy Z Fold 2 not only in South Korea but also in Vietnam and Brazil.

"Manufacturing the Galaxy Z Fold from overseas plants proves that its yield rate has been stabilised," an industry insider said on condition of anonymity.

"It looks like Samsung is now trying to focus on cutting costs for foldable smartphone production".

Samsung on Tuesday introduced its third foldable device in Galaxy Z Fold2 that sports a 6.2-inch cover screen and a 7.6-inch main screen when unfolded.

Galaxy Z Fold2 will be available in two memory variants -- 12GB RAM+512GB and 12GB RAM+256GB internal storage – beginning with select markets at a starting price of $1,999.

The device in Mystic Black and Mystic Bronze colours will be available in around 40 markets, including the US, South Korea and India, on September 18 while pre-orders will begin from September 1.

The launch of the Galaxy Fold, Samsung's first foldable smartphone, was delayed about five months last year due to display problems.

Analysts said Samsung's foldable mobile device sales could reach 3 million units this year as the company expanded its foldable smartphone lineup.

The Galaxy Z Fold 2 will compete with Microsoft's Surface Duo and Huawei's Mate X2, while the 5G variant of the Galaxy Z Flip, which will go on sale on September 18, will go up against Motorola's upgraded Razr foldable phone.