Samsung shocked the smartphone industry when it launched Galaxy Fold. As the smartphone’s name suggests, this is a foldable device that ships with an innovative full-screen design. As you can imagine, everyone wanted to purchase the innovative Galaxy Fold, even though it is the most expensive smartphone that Samsung has ever launched.
Thanks to the foldable design, Galaxy Fold made headlines all over the world and everyone talked about it for months. This is why predictions from industry analysts stated that Samsung has managed to sell more than one million Galaxy Fold units in 2019. Well, it looks like the predictions were wrong.
Samsung CEO Confirms Galaxy Fold Profits
DJ Koh is the CEO of Samsung and he recently revealed that Galaxy Fold had the potential to sell more than one million unit but this didn’t happen. Instead of that, Samsung sold 500,000 units which is still impressive. The reason why Galaxy Fold didn’t do as well as anticipated is because Samsung hurried to launch and there were some major design issues.
Major Design Issues
The Samsung CEO also admitted that launching Galaxy Fold so early was a big mistake on their part. The foldable smartphone didn’t finish all the rigorous testing procedures and this is why it started malfunctioning only after 24 hours of being out of the box. Samsung had no other option than to recall all sold units and give a full refund to their customers.
The biggest problem is not giving the money back, but losing the customer trust. Samsung quickly fixed the major design issues and Galaxy Fold was running without any problems. However, customers were no longer interested in buying the expensive foldable smartphone anymore. On the bright side of things, DJ Koh admits the mistake and says that his company has learned its lesson.