Samsung on Tuesday announced that the number of Galaxy Z Fold and Galaxy Z Flip smartphones sold for business use has more than doubled year on year.
According to internal data, the number of foldable smartphones the tech giant contracted to enterprise customers increased by 105 per cent from January to October 2022, as compared to the same period in 2021.
"With foldable smartphone shipments expected to reach 16 million units worldwide -- an increase of 73 per cent year on year -- the form factor is rapidly becoming mainstream," the company said in a statement.
In 2023, shipments are expected to reach 26 million units.
"Samsung Galaxy foldable smartphones were created to open up opportunities for new ways to work and explore creativity," said K.C. Choi, EVP and Head of Global Mobile B2B Team, MX Business, at Samsung Electronics.
"This rapid growth in investment demonstrates our enterprise customers' need for meaningful innovations to enhance workforce productivity," Choi added.
The fourth-generation folding smartphone from Samsung, the Galaxy Z Fold4, is a multitasking powerhouse perfect for commercial use. In contrast to standard smartphone screens, it features a huge, expansive screen that is pocket-friendly and makes it easier to complete tasks.
The Galaxy Z Fold4's big screen provides a more spacious workspace that is ideal for utilising desktop PC functions. The PC-like Taskbar is the ideal tool for managing many projects and pairs of apps, allowing users to manage, start, and switch between apps without pausing their work.
Companies are turning to technology as they adopt policies that allow employees to work remotely to increase productivity. The financial services sector, where 74 per cent of a sample group of financial advisors say staying connected via mobile apps is important or critical, has been particularly drawn to foldables.
"According to a recent survey, the Bloomberg Professional app is the most used financial services app by investment professionals, such as traders, analysts and portfolio managers," the company said.
Tech giant' foldable phone allows users to "effortlessly switch from the cover screen, ideal for quick Instant Bloomberg (IB) conversations, to the large screen" which helps to easily read news stories, monitor 'real-time market data, browse portfolios or perform chart analysis"
DocuSign offers the world's leading e-signature solution and "is used by 24 of the top 25 fortune 500 financial companies and has also been optimized for Android 12L".
It allows users to easily drag and drop email attachments in "multi-view mode directly into DocuSign eSignature, seal deals quickly on the go with Samsung's S Pen and the dedicated Flex Mode signature," the company said.
The tech giant also worked with IBM (International Business Machines Corporation), in order to overcome the difficulties that financial professionals may encounter when assisting clients while working from anywhere.