Samsung will introduce more than just one foldable phone model in 2019, the company says in its quarterly financial statement released today. Samsung says it will be offering new product innovations this year ‘including foldable smartphones’. The statement also says: “This year, Samsung aims to lead trends in the market by launching foldable and 5G devices in efforts to ensure sustainable growth.”
It is the first time that Samsung speaks in plural form about its upcoming foldable product line. However, the foldable display business is not expected to contribute significantly to Samsung’s earnings. For 2019, the company expects overall annual earnings to decline due to weaker performance by its memory business. But demand for memory products and OLED panels is expected to pick up from the second half.
Samsung says it will focus on developing new growth areas, such as flexible displays. The company plans to boost research and development activities and actively invest in strengthening its core capabilities. Capital expenditure for flexible OLED panels was significantly lower than it was in the previous year, meaning most of the investments in factories, R&D and equipment have been made and mass production (hence profit) can now begin. In 2019, Samsung expects demand for flexible OLED panels for smartphones to rebound from the second half of the fiscal year.
Samsung will unveil the Galaxy S10 next month at the Unpacked event in San Francisco and its new flagship model smartphones are expected to prop up sales and business performance in the coming months.