Digital Desk, New Delhi. Tech giant Samsung has announced that it will expand sales of premium smartphones with the Galaxy Z Flip 3 bespoke edition, continuing the sales of the Galaxy S series. Also 5G will actively target replacement demand with the Spartphone lineup, and the device ecosystem will drive sales of devices such as wearables, PCs and tablets.
Samsung reported growth in revenue for its mobile division from the second quarter. The IT and Mobile Communications division posted KRW 28.42 trillion (over $24.2 billion) in consolidated revenue and KRW 3.36 trillion (over $2.8 billion) in operating profit for the third quarter (Q3).
Samsung said smartphone sales grew over the previous quarter, thanks to the massive market lineup along with strong sales of flagship models including the Galaxy Z Fold 3 and Galaxy Z Flip 3. The company has received an overwhelming response in India for its new foldable line-up.
Nearly 60 percent of Indian consumers are the more expensive Galaxy Z Fold 3 users in India. Dealers and retailers said last month that they were out of stock for the Galaxy Z series amid rising demand.
Looking at the fourth quarter, the market demand is expected to increase quarter-on-quarter due to strong year-end weather, however, uncertainty on component supply is likely to remain, the company said.
The company will strive to achieve solid performance by strengthening the mass-market 5G lineup and device ecosystem business. Looking ahead to the fourth quarter, the company also expects higher quarter-on-quarter TV demand due to the year-end season.