Samsung Unveils Sleeker Foldable Phones to Capture Premium Market

Samsung Electronics has introduced a range of slimmer and lighter foldable smartphones, aiming to secure a foothold in the lucrative premium market, successfully countering the growing Chinese competition led by Huawei and Honor. This decisive move comes after Samsung lost its global smartphone leadership to Apple in 2023. Meanwhile, the company's chip business struggles amid supply delays to Nvidia, prompting Samsung's mobile president, Choi Won-joon, to emphasize AI integration into smartphones as a key strategy for market leadership.

In collaboration with Google, Samsung launched smartwatches featuring Google's AI voice assistant, reinforcing its commitment to technological innovation. Additionally, Samsung has announced price hikes and new model releases, including the Galaxy Z Fold 7 and the Galaxy Z Flip 7, as part of its premium product strategy to cope with U.S. tariffs and component cost rises.

Despite the excitement surrounding foldables, analysts remain skeptical about their mainstream adoption due to high prices and limited practical uses, with data showing a modest market share. Samsung, however, continues to pursue innovations with plans for a tri-foldable phone, enhancing its production efficiency, and mitigating geopolitical influences to maintain its competitive edge globally.

(With inputs from agencies.)