Samsung expects smartphone sales to rise in the third quarter with the launch of new devices, including a new foldable phone. EPA
Samsung expects smartphone sales to rise in the third quarter with the launch of new devices, including a new foldable phone. EPA
Samsung expects smartphone sales to rise in the third quarter with the launch of new devices, including a new foldable phone. EPA
Samsung expects smartphone sales to rise in the third quarter with the launch of new devices, including a new foldable phone. EPA

Here is what Samsung will unveil at Galaxy Unpacked event


Alkesh Sharma
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Samsung’s next big product launch event is around the corner and the South Korean technology giant is expected to unveil three new top-end smartphones, strengthening its premium line-up.

This is probably the last chance this year for the Samsung to impress smartphone enthusiasts and boost the bottom line of its mobile business, according to analysts.

The company’s mobile division posted a 25 per cent increase in operating income to $5.98 billion (Dh21.96bn) in the second quarter.

Samsung said it expects smartphone sales to rise in the third quarter with the launch of new devices, including a new foldable phone.

The National evaluates what to expect from the Galaxy Unpacked event on Wednesday that is being held online this year because of the Covid-19 pandemic.

Adding more juice to Note series

Samsung is expected to expand its Galaxy Note line-up by launching two new models – Note 20 and Note 20 Ultra. According to sources, Note 20 will come with a 17.01-centimetre flat display, while the Note 20 Ultra will have a 17.52cm curved display. There will be a vertical three-camera array, as opposed to a horizontal three-camera array in Note 9, on the rear of both stylus-equipped phones.

A new foldable phone

To woo premium customers, Samsung is doubling down on its first two foldable models and pushing out a new foldable phone, Galaxy Z Fold 2. Recent leaks indicate it will come with a bigger 19.05cm display (when fully opened), with support for a 120Hz refresh rate. It will have a triple-camera setup identical to the Note 20.

The new foldable phone will cost around $1,980 (Dh7,266), according to MySmartPrice, the second–largest technology and gadget research site in India with more than 20 million user visits a month.

It is quite higher than its predecessor Z Flip that was priced Dh5,499 when it was launched in February. It is compact, palm-sized device when folded, with screen size nearly doubling to 17cm when opened.

Why is Samsung pinning high hopes on Note 20?

Samsung shipped only 54.2 million smartphones in three months to June 30, a 28.9 per cent year-on-year decline, according to figures compiled by International Data Corporation.

Samsung's premium devices such the Galaxy S20 and the Galaxy Z Flip, launched in the peak of the pandemic (in February), are facing sales challenges despite price reductions, IDC said.

When will the Note 20 line-up be available in the UAE?

The Galaxy Note 20 series is expected to be available in the last week of August across all major retailers and Samsung stores in the UAE. However, it will be available in the US and selected markets in Europe by the second or third week of this month. Whereas, the Galaxy Z Fold 2 is expected to hit the shelves next month.

If you go

The flights

Fly direct to London from the UAE with Etihad, Emirates, British Airways or Virgin Atlantic from about Dh2,500 return including taxes. 

The hotel

Rooms at the convenient and art-conscious Andaz London Liverpool Street cost from £167 (Dh800) per night including taxes.

The tour

The Shoreditch Street Art Tour costs from £15 (Dh73) per person for approximately three hours. 

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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