Galaxy Fold with 5G launching in May in South Korea

Samsung Electronics will launch its foldable smartphone the Galaxy Fold with 5G in May in South Korea, the company's mobile boss says, and vows to sell more than a million units globally.

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Samsung expects its foldable smartphone, the Galaxy Fold with 5G connectivity, to begin sales in May in South Korea, its mobile boss said.

DJ Koh, the South Korean tech giant's co-CEO and head of mobile, told Korean journalists at a press event in the sidelines of its unveiling event at San Francisco that the Galaxy Fold was a "super premium" product that has 5G capabilities and the best performance, and is set to launch in May in its home country.

"Customers in the South Korean market will be able to touch and experience [Galaxy Fold] in early to mid-April," Koh said. It will be available in limited number of shops before it officially goes on sales in May, the co-CEO said.

Pricing has been announced as $1,980 at the unveiling event, and in South Korea, it will be between 2.3 million to 2.4 million won ($2,130). Koh explained that the price was high because 5G chips were far pricier than those of 4G in South Korea.

Samsung initially developed the Galaxy Fold with 4G LTE connectivity in mind but later changed to 5G to make it the highest premium product, Koh explained.

In the US market, which will get the Galaxy Fold first on April 26, the connectivity will be LTE. Europe will be the second market to launch afterwards, then South Korea.

In November, Koh said that he expects Samsung to move a million units for the foldable phone. But he now says the South Korean tech giant had set a higher sales goal.

"We are confident that it will sell more than a million units," he said.

The co-CEO also said the Galaxy Fold will be established well in the market and contribute to profits.

He also hit back at arguments that a foldable phone was coming too early.

"Considering the past 10 years and 10 years ahead from now, I think [a foldable phone] is meaningful in bringing customers a new user experience. It's not early at all. It's the right time."

Earlier this week, his LG counterpart Bongsuk Kwon, said demand for foldable phones was uncertain.

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