Samsung Electronics Co. has adjusted up the second batch of preorders for its foldable phone, the Galaxy Fold, on greater-than-expected demand.

Samsung Electronics, whose maiden shipments went mostly to its own shops, will dole out a bigger share to Korea’s three major mobile carriers competing heavily for new customers in the premium market reinvigorated by the latest innovation ahead of the second presale starting Wednesday.

Amid rumors of restricted supplies, gadget lovers are paying extra to grab the device, as evidenced by local online sites that feature postings to buy an unopened Galaxy Fold for 4 million won ($3,377) or sell an opened unused product for 2.7 million won. The Galaxy Fold is retailed at 2.39 million won in Korea.

Global shipments for the second preorder are expected to total roughly 1 million units, with 20,000-30,000 reserved for the home market. This is a significant bump up from the first round, which had set aside 2,000-3,000 units for direct sales at home and a combined 1,000 units for the three local carriers.

SK Telecom had sold out the first batch in 10 minutes and KT in less than 15, with phones sold on Samsung Electronics’ own website also gone in just 10 minutes. KT and LG Uplus, which had only released the color Cosmos Black in the first round, may be able to secure Space Silver in the latest preorder on increased allotments.

According to a report by market data provider Counterpoint Research, global sales of foldable phones are projected to reach 400,000 this year, less than one-fourth the previous estimate of 1.9 million. China’s Huawei was scheduled to launch its own foldable handset, the Mate X, in mid-2019 but was held back due to the ongoing trade dispute between China and the United States.

The long-term market outlook for foldable phones, however, looks promising. Counterpoint Research expects global shipments of the foldable phones to reach 3.2 million units next year, 10.8 million in 2021, 27.4 million in 2022 and 36.8 million in 2023.

By Lee Dong-in and Kim Hyo-jin

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