Seoul. Samsung on Wednesday unveiled new foldable smartphones, keeping prices at the same level as last year in a bid to cement its lead in a booming niche market.
The company priced the Galaxy Z Flip4 at US$999.99 and the Galaxy Z Fold4 5G with 7.6-inch main display from US$1,799.99 in the United States, the same launch prices for models in this range. last year.
“We have successfully transformed this category from a radical design to a line of devices enjoyed by millions of people around the world,” said TM Roh, president and chief mobile experience officer at Samsung.
Galaxy Z Flip4 and Z Fold4, as well as its latest earbuds, Galaxy Buds2 Pro, will be available starting August 26 in select regions including the United States, parts of Europe, and South Korea.
Counterpoint Research forecasts that global sales of foldable smartphones will grow to 16 million units this year, just 1.2% of the 1.36 billion units that will be sold in the market, but a jump from the 9 million sold the previous year. .
Although the overall smartphone market is projected to shrink this year as consumers spend less, foldable smartphones are likely to fare better as their extravagant form factor, large screens and portability attract interest. analysts said.
Samsung had a 62% market share in foldable smartphones in the first half, followed by Huawei with 16% and Oppo with 3%. Counterpoint predicts that Samsung’s share in the second half will be around 80% after new launches.
Samsung said it aims for foldable phone sales to surpass those of its flagship smartphone, the Galaxy Note, in the second half of the year.
“Foldables helped Samsung differentiate itself… Apple is going to be Samsung’s main competitor in the future and we expect Apple to release a foldable in 2024 or 2025,” said Jene Park, senior analyst at Counterpoint.
Samsung said the latest models make it easier for phone owners to use popular apps like Microsoft’s Instagram and Outlook.