Global Smartphone Brands Try to Squeeze More Cash As Unit Sales Drop

In a bid to get more cash from the pockets of customers, global phone brands Samsung and Huawei launched expensive smartphones Samsung Galaxy Fold and Mate X at $1,980 and about $2,600, respectively.

Following in the footsteps of Apple, the rivals – Samsung Electronics and Huawei Technologies – are trying to get more out of their smartphone sales. The two brands have increased the unit price of their latest devices.

Apple was the first to cross the $1000 boundary when it launched iPhone X. Now, Samsung and Huawei have followed suit as both companies have launched their folding phones at $1,980 and about $2,600, respectively.

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Samsung and Huawei Follow Apple’s Expensive Phone Strategy

The new folding devices are the most expensive phones to date. I think Apple’s competitors have learned the strategy of squeezing cash from the pockets of consumers.

When Apple launched its iPhone X, the company had a strong reason to ask for $1000 (and more) from the users. Samsung and Huawei were looking for a strong reason to put a high price tag on their devices. Folding phones supplied a good reason for both phone makers to hike prices exorbitantly.

Even as the two Android giants have impressed consumers with this new technology, there is a looming question for the phone makers: is the folding-screen a new wave in smartphones or a fad?

Replying to this question, Bryan Ma, vice president of devices research at IDC, says, “It won’t be a big volume mover at that price, but keep in mind that notebook PCs used to cost $2,000, too, before they reached more affordable price points.”

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Richard Yu, the chief executive officer of Huawei’s consumer group called Mate X “very expensive.”

The first run on folding devices can be successful for Samsung and Huawei. However, when competitors bring similar technology at cheaper rates, both companies will face tough situations. Apple has already experienced this in China, where local phone makers introduced similar technology at sometimes a third or half the price of iPhone X and iPhone Xs.

That’s all, mate!

Summing up…

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As the smartphone market is saturated, manufacturers face this challenge of bringing innovation. A new striking feature not only hits new sales records but also provides a reason for makers to up the price tag.

You may also like to refer more news:

Do you think consumers will pay the enormous price for folding screen technology? Share your feedback with us on Facebook, Twitter, and Telegram. Also, make sure to download our app to read other exciting news stories on the go.

SourceBloomberg
Jignesh Padhiyarhttps://www.igeeksblog.com
Jignesh Padhiyar is the co-founder of iGeeksBlog.com who has a keen eye for news, rumors and all the unusual stuff that happens around Apple products. During his tight schedule, Jignesh finds some moments of respite to share side-splitting contents on social media.
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