Samsung unveiled its latest foldable smartphone on Wednesday and kept prices at the same level as last year in an effort to consolidate its leadership in an expanding market for this type of phone.
The company introduced the two new phones (Galaxy Z Flip 4) and (Galaxy ZFold 4) equipped with fifth generation technology and a 7.6-inch main screen.
“We have successfully transformed this category from a revolutionary project into a range of popular devices enjoyed by millions around the world,” said TM Roh, Head of Mobile Experience at Samsung.
The two models, in addition to the latest Samsung earbuds (Pro Galaxy Buds 2), will be available in general from August 26 in certain countries such as the United States, South Korea and European countries.
Market research company Counter Point expects that the number of foldable smartphones around the world will grow to 16 million phones this year, or only 1.2 percent of the expected 1.36 billion smartphones of all kinds, but this number also constitutes a jump in the number of foldable phones globally. Last year, there were nine million.
Analysts said that although the smartphone market is shrinking this year with lower consumer spending, foldable phones are likely to fare better, with more users becoming interested in their high-end features and large screens.
Samsung accounted for 62 percent of the foldable smartphone market share in the first half of 2022, followed by Huawei with 16 percent and Oppo with three percent. Counter Point expects Samsung to acquire an 80 percent stake in the second half after the release of the two new phones.
Samsung said it aims for sales of foldable phones to outpace sales of its previous flagship smartphone, the Galaxy Note, in the second half.
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