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Samsung Unveils Premium Foldable Smartphones

·1 min read
  • Samsung Electronics Co, Ltd (OTC: SSNLFshowcased its latest high-end foldable smartphones on August 10, keeping prices at the same level as last year's.

  • Samsung said the latest models make it easier for phone owners to use Meta Platforms Inc (NASDAQ: META) Instagram and Microsoft Corp's (NASDAQ: MSFT) Outlook apps.

  • Samsung priced its clamshell Galaxy Z Flip4 at $999.99, and the 5G-enabled top-line Galaxy Z Fold4 with a 7.6-inch main screen to start at $1,799.99 in the U.S., the same as the launch prices of 2021's models, Reuters reports.

  • Also Read: Samsung Snaps This OLED Company Reputed For Foldable Devices For $300M

  • Counterpoint Research forecasts global shipments of foldable smartphones to grow to 16 million units this year, up from 9 million foldable shipped last year. The phones form just 1.2% of the 1.36 billion smartphone shipments.

  • Samsung held a 62% market share in foldable smartphones in the first half of 2022, followed by Huawei at 16% and Oppo at 3%.

  • Counterpoint forecast Samsung's share in the second half will be around 80% after the new releases.

  • Samsung aimed for foldable phone sales to surpass that of its past flagship smartphone, Galaxy Note, in the second half.

  • "Foldables have helped Samsung differentiate itself... Apple Inc (NASDAQ: AAPL) will be Samsung's key competitor in the future, and we expect a foldable to be released from Apple in either 2024 or 2025," said Counterpoint senior analyst Jene Park.

  • Photo via Company

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