Korean handset maker Samsung has launched the world’s first foldable smartphone, Samsung Galaxy Fold in India at Rs 1,64,999. Confident of getting traction from luxury-end of the market, Samsung will make the device available in the offline market before Diwali.

Samsung Galaxy Fold
The handset maker, citing GFk data, claimed 72% value market share in the month of August in Rs 40,000 and above segment.

Ranjivjit Singh, Chief Marketing Officer, and Senior Vice President – Mobile Business, Samsung India, told ET that India is among very first few markets to see the commercial availability of the new device, which has only been launched in the US and South Korea.

“There is a segment of consumers that want to go for it…the device falls under the luxury-end of the market…there’s a meaningful innovation which this device offers. The device will create a new category in the market,” Singh said, adding that Samsung is getting into uncharted territory with the new phone.

The device will be available in 35 cities across select 315 outlets, including the iconic Samsung Opera House in Bengaluru and multi-brand outlets. It will be available for pre-booking on Samsung’s online store.

Consumers buying “Galaxy Fold” will get their device delivered to them through a concierge, along with a dedicated 24×7 expert on call. Each device comes with Galaxy Buds in the box and “Aramid Fiber” case made of fiber which has a high capacity to withstand pressure.

Analysts believe that the latest device will remain extremely niche in India, but could be positioned as a device for business users.

Prabhu Ram, Head-Industry Intelligence Group (IIG), CMR said that the Galaxy Fold posits a whole, new future for where device form factors will evolve into. “The first-generation Samsung Galaxy Fold will find favour with the early technology adopters, despite the steep price,” he added.

Ram said that it Samsung were to position the Fold as a stylish and secure enterprise productivity tool, it will find favor with businesses operating an always-on work environment.

“More importantly, the large 7.3” screen on the Galaxy Fold holds immense potential for multi-tasking,” Ram said.

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