The Galaxy Z Flip has been released in more than 40 countries around the world including Korea, the United States, France, Spain and Singapore since Feb. 14, Samsung Electronics said on March 9. The new foldable model has already been sold out not only in Korea but in about 20 countries including the United States, France, Germany, Spain, Russia, the United Arab Emirates, Saudi Arabia, China, India, Japan, Thailand, and Singapore.
Samsung Electronics will release the Galaxy Z Flip in Brazil on March 11. The company began exhibiting the latest foldable model in 10 stores across Brazil on Feb. 5 ahead of its official launch.
As sales have been growing faster than expected, production of related parts such as displays will also accelerate. Samsung Display is expected to expand its organic light emitting diode (OLED) module plant in Vietnam. The Vietnam plant makes foldable display modules. It currently rolls out 300,000 units a month. If the production lines in Vietnam are expanded, the company is expected to secure 900,000 units per month by year-end.
Strategy Analytics, a market research firm, forecast that foldable phones will sell 13.6 million units this year and 50.1 million units in 2022. Worldwide foldable phone sales hit 3.2 million units in 2019.