Samsung is targeting to sell 10 million units of foldable smartphones this year, the company’s mobile president said on Wednesday, as per a report. The South Korean tech giant has announced its next generation of foldable, the Galaxy Z Fold 4 and the Galaxy Z Flip 4, on Wednesday, globally, at the much-awaited Galaxy Unpacked event. Following the launch, the company said that its ultimate goal is to have its foldable smartphones account for over half of the premium smartphones it sells by 2025.

As per the report by ZDNet, Samsung aims to sell over 10 million units of foldable smartphones this year. The report has mentioned that the company’s mobile president announced the same after the launch of the Samsung Galaxy Z Fold 4 and the Samsung Galaxy Z Flip 4 smartphones at the Galaxy Unpacked event.

He further said, “Samsung focused on “perfecting” the foldable formula in preparing for the Z Fold 4 and Z Flip 4 and strengthened the usability of points that only the form factor can offer,” as per the report.

The report also points out that TM Roh addressed that “when it comes to Z Fold 4 and Z Flip 4, the company secured a sufficient number of components so that there will be no supply issue. The overall component shortage was at its peak last year but is easing quickly at the current time and Samsung is expecting the issue to be resolved next year.”

The pricing of the newly unveiled Samsung Galaxy Z Flip 4 and Galaxy Z Fold 4 start at $999 (roughly Rs. 79,000) and $1,799.99 (roughly Rs. 1,42,830), respectively. The pricing is same as their respective predecessors, Samsung Galaxy Z Flip 3 and Galaxy Z Fold 3 that launched last year.

On the occasion, Samsung’s president reportedly said, “these prices were set to make foldable phones mainstream and accessible to consumers despite the pressure the company is facing from the current rise in raw material costs, supply chain issues and inflation.”

Moreover, in considering foldable smartphones as mainstream for the company, Roh stressed that “this was when an ecosystem is formed around foldable smartphones backed by consumer trust and usability. This was more important than absolute sales figures and have started with the Z Fold 3 and Z Flip 3 models last year and will continue with the Z Fold 4 and Z Flip 4.”