Like many of its competitors, Samsung this week has released its quarterly results for Q2 2021 ending 30th June. The quarter yielded a mixed bag, with the South Korean firm excelling in certain areas and suffering in others. The company also noted its interest in the foldable phones category and a desire to make them mainstream, with a Galaxy Unpacked event only a couple of weeks away.

As far as the positives are concerned, Samsung saw its revenue and operating profit climb by 20 percent and 54 percent respectively year-on-year. The former saw the company achieve 63.67 trillion won in revenue, which translates to $55.56 billion.

Looking at some of the negatives, it was component shortages that impacted the South Korean manufacturer, which is an issue that has plagued the entire technology industry as a result of the pandemic.

“Earnings at the Mobile Communications Business declined from the previous quarter due to component supply shortages and COVID-19 related production disruptions. But the business posted solid profitability as the Company leveraged its global SCM capabilities, improved the cost structure and as contributions from tablets and wearables continued,” Samsung’s report noted.

As for what the future holds for Samsung from a consumer device perspective, attention now shifts to the aforementioned Galaxy Unpacked event on 11th August, where a handful of foldable phones are expected to be revealed. Over an above this, the company wants to be the leader in this segment, which is still aiming to finding its feet following a lot of hype and fervour a couple of years ago.

“The Company will strive to achieve solid revenue and profits by enhancing the competitiveness of its smartphone lineup with the launch of new foldable models and expansion of mass-market 5G models. Also, it will further increase sales of the Galaxy Ecosystem products,” says Samsung.

“With successful launch of the new foldable smartphones with further enhanced user experience, the Company will solidify its leadership in the premium segment by mainstreaming the foldable category while continuing the sales momentum of Galaxy S series throughout the year,” it adds.

If foldable phones are indeed to become mainstream, cost will likely be the first barrier that needs addressing, as these devices carry a premium price tag and experimental billing at the moment.

Whether we could see a foldable phone that is good value for money next month, remains to be seen, but for now, the chances are slim given the cost of flexible displays and the added engineering such offerings require.