SEOUL, Sept. 3 (Yonhap) -- Samsung Electronics Co. may produce up to 800,000 Galaxy Z Fold 2 foldable smartphones this year, industry sources said Thursday, as the South Korean tech giant looks to increase sales of foldable handsets with an expanded lineup.
The Galaxy Z Fold 2 was officially introduced Tuesday, with its global launch slated for Sept. 18. The price of the book-like folding device was set at US$1,999.
Industry insiders said 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.
Samsung is likely to produce the Galaxy Z Fold 2 not only in South Korea but also in Vietnam and Brazil, according to the sources.
"Manufacturing the Galaxy Z Fold from overseas plants proves that its yield rate has been stabilized," an industry insider said on condition of anonymity. "It looks like Samsung is now trying to focus on cutting costs for foldable smartphone production."
For the Galaxy Z Fold 2, Samsung said it focused on improving user experience and solving problems with the Galaxy Fold that were raised by consumers.
The launch of the Galaxy Fold, Samsung's first foldable smartphone, was delayed about five months last year due to display problems.
Analysts here 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 Sept. 18, will go up against Motorola's upgraded Razr foldable phone.
But analysts said Samsung will likely move ahead against its competitors.
"Samsung has reconfirmed its technological prowess in foldable smartphones, so it is likely to take a leading position for quite an amount of time," Roh Kyoung-tak, an analyst at Eugene Investment & Securities, said. "With a diversified foldable product lineup, Samsung's foldable smartphone sales could expand to 8 million units in 2021."
BTS fails to win Grammy for 3rd consecutive year
(LEAD) 1st S. Korean state compensation ordered for victim of Vietnam War mass killings
Jay Park's Won Soju to be sold in U.S.
(2nd LD) Search under way for 9 missing after fishing boat capsizes
(LEAD) Ahn calls off campaigning activities amid row with Yoon's office
S. Korea opens metaverse platform for Korean-language learning
(LEAD) N. Korean leader visits barracks with his daughter to mark army founding anniv.
Ex-gov't employee summarily indicted for alleged attempt to sell Jungkook's lost hat
N. Korea holds military parade in Pyongyang to mark armed forces' founding anniv.: source
(5th LD) S. Korea to send 110 rescue workers to quake-hit Turkey, offer $5 mln in aid