11 Jun The Future is Foldable: Retailers Get Ready!Reading Time: 3 minutes
The ‘curse’ of the hotly anticipated, but, up until now, disastrously disappointing foldable phone trend rages on. If mobile retailers weren’t nervous before about the thought of dealing with expensive malfunction warranty claims, they sure are now!
Due to several setbacks, foldables aren’t mainstream yet, but they’re predicted to be within the year – and businesses need to be prepared for the inevitable insurance demand.
What’s the Situation With Foldable Phones Right Now?
Let’s summarise the position of the three biggest foldable phone devices about to hit the market. After a series of high profile and widely broadcasted device failures, Samsung has ground the distribution of their flagship Galaxy Fold to a halt, with no new release date specified to this day. Customers that preordered the Fold will have to continue to wait, indefinitely, which has even led retail giants to cancel all Fold preorders. Despite the rocky launch, Samsung is working hard to improve the device, and the Galaxy Fold will hit shops as soon as the product is deemed worthy of a relaunch.
Then there’s Huawei – the victim of the current hotly discussed U.S. vs. China trade war. The U.S. is only allowing Google and other companies to offer software updates for current Huawei products until August 19th, so devices like the Huawei Mate X will have to be put on hold until Huawei develops and releases their own mobile operating system, which most likely won’t happen until the end of the year. Nevertheless, this is a highly anticipated product poised to hit the market.
The third big player, Motorola, has said it will release its own competing foldable phone, the Motorola RAZR. However, there has been no word when this will happen, or even what the definitive model will look like. Motorola’s parent company, Lenovo, has also announced plans to launch an all-screen foldable laptop in 2020. Clearly, the future is foldable, no matter what obstacles currently lie in the way.
Foldable phones are on the verge of launching into the mainstream
Insurance Demand Will Rise
Foldables will be the most expensive phones to have ever been launched into public circulation. The Samsung Galaxy Fold is almost $2000, and the Huawei Mate X is an eye watering $2600. It goes without saying that nearly every single customer will want insurance cover on these prized possessions. However, many mobile operators and retailers’ insurance policies have a maximum claim limit well below the value of such a handset.
Is Your Insurance Policy Adequate?
It’s essential that retailers and telcos update their insurance offers to a higher price category as soon as possible to coincide with the upcoming device launches, or they won’t be able to fulfil consumer demand. Switching to insurance that doesn’t have claim limits, such as i-surance, would be a wise choice. i-surance already has the core policy to avoid claim limits in place, so requires no time-consuming changes in procedures to handle foldable phone claims.
Prioritise Damage Prevention
Since repairing the displays of foldable phones will be an exorbitantly expensive job, it’s more than advisable to do everything possible to prevent an accident before it happens. Retailers should urge their customers to add on a screen protector when they purchase their foldable device. What kind of protection can possibly work for a foldable screen, you ask?
Enter revolutionary CrystalTech Nano screen protection. This nifty liquid glass adheres to any surface, smoothing the screen at nano level which strengthens it rather than adding thickness. We’ve written about it on the blog before; read the article here! The Nano Liquid also bends perfectly, making it ideal for foldable displays. No other screen protection currently on the market functions with foldable screens, so this is a truly innovative product to offer customers with their new foldable phone, along with a suitable insurance plan. A package combining both actually already exists; click here to learn more about this integrated screen protector & warranty offer, or get in touch with i-surance for more extensive device coverage.
Nano Liquid screen protection is the only screen protector on the market that works on foldables.
The Foldable Future
While the public collectively (and impatiently) waits for the imminent introduction of foldable screens into mainstream tech, make sure that if you’re an industry professional you’re a step ahead of the game. To compensate for the delicate fragility of these pricey inventions, make sure your claim procedures and insurance policies are solid. Get in touch with i-surance here for partnership possibilities!