Samsung expects to sell around 260 million smartphones this year and aims to sell around 270 million units by 2023, according to a new report from its home country of Korea. The company's device sales peaked in 2017 at 320 million units, and have not exceeded 300 million since.
The current estimate of the 260 million units sold in 2022 is about 10 million more than last year, and the company wants to increase that by another 10 million next year. To do this, it will reportedly focus a lot on the foldable, which could help it grow its profitability rather than solely overall sales volume.
Instead of giving up on profitability by trying to move as many low-cost devices as possible by 2023, it will allegedly shift gears to "maintain profits" by increasing the proportion of premium products it sells. This is where foldables remain unmatched for the company, estimating an average annual growth rate for them of 80% by 2024. Samsung aims to ship 60 million units of the premium S and Z series, and 210 million units of the premium Series next year.
Regarding foldables in particular, however, the plans may fall short if one or more Chinese smartphone makers finally decide to launch their foldable devices internationally, where Samsung is currently unencumbered by the rules. Those competitors can and will likely challenge Samsung's dominance on price grounds, and thus could force it to make some cuts in its all-too-tasty profit margins.
The report goes on to say that next year's Samsung Galaxy Z Flip and Fold devices will come with a better design, better durability, and less noticeable screen folds.