Samsung Electronics' (005930.KS) first dual-folding smartphone, the Galaxy Z Tri-Fold, sold out its initial inventory within five minutes of its official launch in the Korean market.
The Galaxy Z Tri-Fold is generating strong buzz, with expectations growing that Samsung will establish a luxury brand image while preempting Apple's foldable phone expected next year in the premium device market.
According to industry sources on the 12th, the initial batch of Galaxy Z Tri-Fold units officially released by Samsung Electronics in the domestic market sold out entirely in five minutes. Samsung Gangnam and Samsung Store Hongdae, where the Galaxy Z Tri-Fold went on sale, saw long lines of customers waiting before store opening.
The device is Samsung Electronics' first dual-folding foldable smartphone. The Galaxy Z Tri-Fold unfolds to a 253mm (10-inch) large display and folds down to a 164.8mm (6.5-inch) screen, the size of a regular smartphone. The retail price is 3.59 million won ($2,600), 51% higher than the Galaxy Z Fold7 at 2.37 million won.
The company has opened a new chapter in the premium smartphone market with the sellout of the initial inventory. By creating the first market for dual-folding tri-fold phones in Korea, Samsung has established a luxury image among customers. Samsung Electronics plans to strengthen its technology leadership through data gathered from customer experiences.
"Apple's foldable phone will change the competitive landscape next year, so Samsung has positioned the Tri-Fold as a test model to collect user data," said Liz Lee, Director at Counterpoint Research.
Meanwhile, inquiries flooded into 20 stores nationwide on the launch day from customers seeking to purchase the Galaxy Z Tri-Fold. Customers rushed to buy the new device as it was supplied in limited quantities through unlocked sales only, without carrier partnerships. Inventory prepared on Samsung.com also sold out quickly.
"Components are typically ordered additionally at two-week intervals, but given the positive reviews of the build quality and strong first-day response, additional inventory orders could come sooner," an industry official said.
