Samsung plans foldable and 5G smartphones to boost sales in 2019

Samsung has announced that it plans to launch foldable and 5G-capable smartphones in 2019. It made the announcement along with its third quarter results for 2018, in which it reported operating profit of 17.57 trillion won (R226 billion).

“As for the outlook for 2019, smartphone market demand is expected to slightly grow mainly driven by premium segments. However, competition is likely to intensify across all segments as key features of premium models continue to expand to mid- to low-end models,” Samsung said.

As part of its goal to expand sales of premium smartphones, Samsung said it will pursue a diverse range of phones with differentiated design.

It will also adopt cutting-edge technology across its whole Galaxy smartphone line-up, including the Galaxy A series, the company said.

In addition to expanding its premium smartphone range, Samsung said its organic light emitting diode (OLED) display business will look to expand into new product categories through the use of flexible panels.

“Samsung will also aim to further its leadership by enhancing the technical readiness of new applications for foldable, automotive and IT displays. Additionally, the OLED business will seek to reinforce partnerships with major smartphone manufacturers and improve cost competitiveness to ensure continued growth.”

Now read: Samsung cuts back on capital spending after beating analyst estimates

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Samsung plans foldable and 5G smartphones to boost sales in 2019