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Samsung Presents S20 Flagship Lineup, Joins 5G Race

Shivdeep Dhaliwal

Samsung Electronics (OTC: SSNLF) has displayed its 5G-compatible S20 mobile devices in the US.

What Happened

Samsung released its S20 flagship series featuring phones such as Galaxy S20, Galaxy S20 Plus, and Galaxy S20 Ultra at an event in San Francisco. The tech giant also presented a new foldable phone Galaxy Z Flip and Samsung Galaxy Buds Plus, all 5G compatible.

The new folding phone will be launched on Friday and will retail for $1,380.

The Galaxy S20 is not Samsung’s first 5G device –– the company released the Galaxy S10 5G model in February last year. 

Why It Matters

The 5G handset race is heating up. Other devices expected to be released this year include Apple Inc.’s (NASDAQ: AAPL) iPhone 12, equipped with Qualcomm Inc. (NASDAQ: QCOM) 5G modem. Meanwhile, South Korean rival LG Electronics Inc. (OTC: LGEIY) is reserving its 5G line up exclusively for American and European markets.

In the United States, Verizon has plans to launch 5G, for which a special version of Galaxy S20 that is compatible with millimeter-wave and lower and midbands will be launched and won’t be available till the second quarter.

Price Action

Samsung’s shares traded slightly higher by 0.17% at $50.92 at press time in Seoul on Wednesday.

Photo Credit: Courtesy of Samsung.com

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