Samsung Electronics has continued to place its bets on smartphones that have bendable displays by unveiling two new foldable smartphones.
Four years ago, Samsung created the premium niche market for smartphones with bendable screens.
The South Korean corporation has conducted the latest “Unpacked” worldwide product presentation in its own country for the first time, in an effort to entice customers away from Apple with its yearly refresh of foldable smartphones.
Larger than usual smartphones, the Galaxy Z Flip 5 and Galaxy Z Fold 5 can be opened and folded like books.
The phones, which have 6.7-inch and 7.6-inch main screens, are larger than Samsung’s previous folding smartphones and have better cameras, according to the manufacturer.
This results in sharper images and additional functions for work, text and video conversations, movies, and gaming.
The Flip will cost $999, and the Fold will cost $1,799 when the phones go on sale on August 11.
It is anticipated that Apple would enter the market as early as 2025, which would raise the popularity of foldable.
The Galaxy Z Flip and Z Fold phones from Samsung are more streamlined and lightweight in 2023 models.
The Z Flip 5’s clamshell design offers a substantially larger cover screen that can be used for apps rather than only showing notifications.
The Z Fold 5 has an upgraded fold-flat hinge and can be converted from a pocketable smartphone to a widescreen tablet.
With a dominant 79 percent market share in the previous year, foldable are the only premium category in which Samsung is the market leader.
By 2025, the company wants to sell half as many foldable phones as premium smartphones.
However, according to IDC, its foldable market share decreased to 65% in the first quarter of this year as Chinese rivals Oppo and Huawei separately captured 17% and 10% of the worldwide market.
As of last year, China became the largest market for foldable, and Samsung has set its sights on the country in an effort to increase its less-than-1-percent share of the Chinese market.
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