SEOUL, Aug 10 (Reuters) – Samsung Electronics (005930.KS) unveiled its newest high-end foldable smartphones on Wednesday, maintaining costs on the similar stage as final yr’s in a bid to cement its management in an increasing area of interest market.

The smartphone maker priced its clamshell Galaxy Z Flip4 at $999.99, and the 5G-enabled top-line Galaxy Z Fold4 with a 7.6-inch important display screen to start out at $1,799.99 in the US, the identical because the launch costs of final yr’s fashions.

“We have efficiently remodeled this class from a radical challenge to a mainstream gadget lineup loved by hundreds of thousands worldwide,” stated TM Roh, president and head of cellular expertise at Samsung Electronics.

The Galaxy Z Flip4 and Z Fold4, in addition to its newest earbuds, Galaxy Buds2 Professional, will probably be usually obtainable beginning Aug. 26 in choose locations reminiscent of the US, elements of Europe and South Korea.

Counterpoint Analysis forecast world shipments of foldable smartphones to develop to 16 million models this yr, simply 1.2% of the 1.36 billion smartphone shipments forecast, however a bounce from 9 million foldables shipped final yr.

Though the general smartphone market is seen shrinking this yr as customers spend much less, foldable smartphones are more likely to fare higher, as their quirky kind issue, massive screens and portability entice curiosity, analysts stated.

Samsung held a 62% market share in foldable smartphones in the primary half of 2022, adopted by Huawei at 16% and Oppo at 3%. Counterpoint forecast Samsung’s share in the second half will probably be round 80% after the new releases.

Samsung stated it’s aiming for foldable cellphone gross sales to surpass that of its previous flagship smartphone, Galaxy Word, in the second half. learn extra

“Foldables have helped Samsung differentiate itself… Apple will probably be Samsung’s key competitor in the longer term and we count on a foldable to be launched from Apple in both 2024 or 2025,” stated Counterpoint senior analyst Jene Park.

Samsung stated the newest fashions make it simpler for cellphone house owners to make use of fashionable apps reminiscent of Instagram and Microsoft’s (MSFT.O) Outlook.

Reporting by Joyce Lee. Enhancing by Gerry Doyle

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