Samsung Electronic (OTC:SSNLF) has announced a special promotion for its upcoming Galaxy Z Fold and Z Flip phones, offering a $50 credit to customers who reserve the devices ahead of their official release.
What Happened: The reservation period for the new phones, which are expected to be unveiled at Samsung’s Unpacked event on July 10 in Paris, France, will run until the event day. The $50 credit can be used for an eligible device once the preorder is complete.
Customers who reserve a preorder are not obligated to buy the new phones, but those who do will receive a $50 credit to use on Samsung’s site or in the Shop Samsung app, provided they use the same email address as the one on the reservation.
Despite the phones’ typical price range of $1,000 to $1,800, the $50 credit may not seem like a significant discount to some prospective purchasers.
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Why It Matters: This move by Samsung comes at a time when the foldable smartphone market is experiencing significant growth. In the first quarter of 2024, the global foldable smartphone market saw a 49% YoY increase, marking the highest growth rate in six quarters.
This surge was primarily attributed to significant shipment increases by Chinese OEMs, with Huawei taking the lead for the first time, outpacing Samsung. Having said that, expectations for the clamshell market’s growth potential remain high this year, with Samsung aiming to reclaim its market leadership with the upcoming Z Flip 6.
If the rumors, leaks, and FCC information are accurate, it appears that the yet-to-be-announced Galaxy Z Flip 6 and Galaxy Z Fold 6 will feature mostly incremental updates, reported The Verge. Consumers will have to wait to see if Samsung delivers any surprises, particularly given the increasing buzz surrounding AI software features.
Image Credits – Samsung
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