Samsung's bet on foldable phones faces major test with slimmer new model
on Wednesday unveiled thinner, lighter new foldable phones as it aims to fend off Chinese competition in the higher-margin, premium segment that remains untapped by arch rival Apple.
The stakes are high. The South Korean company lost its global smartphone crown to Apple in 2023, and faces growing competition from Chinese rivals like Huawei and Honor.
Meanwhile,
Samsung
's mainstay chip business has suffered a profit slump stemming in part from its delayed supply of artificial intelligence chips to Nvidia.
Samsung's mobile president and chief operating officer, Choi Won-joon, said his most important mission was to make Samsung a leader in
AI-powered smartphones
.
"I believe that foldable phones, integrated with AI features, are ready to become mainstream by offering unique, differentiated experience," he told Reuters in his first media interview since being promoted in March.
He said Samsung aims to take a leadership position in AI by enhancing cooperation with external partners like Google , unlike Apple, which has been using in-house AI technology that has faced delays in adding key features.
Samsung also in New York unveiled its first smartwatches equipped with Google's AI voice assistant, Gemini, which can make recommendations to the owner such as good locations for a run, as an example.
Premium halo
Samsung said in April that it was pushing ahead with a premium product strategy, as U.S. tariffs threatened to dampen demand and raise component costs.
The smartphone maker increased the U.S. price of
Galaxy Z Fold 7
to $1,999 by 5% from its predecessor Fold 6, while introducing a less expensive version of its Galaxy Z Flip 7 clamshell phone, Flip 7 FE, priced at $899.
Galaxy Z Fold 7 is equipped with Qualcomm's fast processor, Snapdragon 8 Elite, while Galaxy Z Flip 7 is powered by Samsung's in-house Exynos chips.
Analysts said Samsung's new models tackled some of the issues with foldable phones such as bulkiness, and would create a premium halo around the brand. The Galaxy Z Fold 7 weighs 10% less than its predecessor and is 26% thinner.
But high prices and a lack of use cases mean foldable phones are likely to remain a niche segment, the analysts said, with data from research firm IDC showing they account for just 1.5% of the total smartphone market.
Research firm Canalys predicts Samsung's foldable shipments, which peaked in 2022, will remain flat or slightly declining in 2025, in line with the broader market's flat growth, according to data provided to Reuters.
Samsung's foldable smartphones account for 4% of its total phone sales but 16% of those priced over $800, Canalys said.
Its data shows Samsung's dominance of the foldable phone segment is being eroded by Honor and Huawei, which are enjoying strong sales, especially in China.
Samsung, which held its unveiling event in New York on Wednesday, will focus on the United States, Europe and South Korea for foldable phone sales, Choi said.
Choi said Samsung is "working hard" to develop tri-foldable phones, which users can fold three ways, without elaborating on the launch date.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
an hour ago
- Economic Times
Virgo Daily Horoscope Today – 26th July 2025: You need to embrace fresh perspectives on your career
Synopsis Mercury will be retrograde in the Cancer sign. This influences your social zone, and Venus is moving into the Gemini sign today. It urges you to tread carefully in communication. You need to embrace fresh perspectives on your career. ET Online New ideas may bring attention to your way. You can do well, especially in creative or analytical fields. You need to double-check your details. You should avoid miscommunication due to Mercury's retrograde and Jupiter in the Gemini sign may bring unexpected opportunities. You can have recognition at work that could impact your income. Still, it is best to hold off on major financial decisions for now. You may feel nostalgic or drawn to reconnect with someone from your past. Reflect, but don't act impulsively. Mercury retrograde may blur your emotional or mental fatigue can affect your digestion or sleep. You need to maintain a simple routine. You can incorporate grounding habits such as journaling or herbal by: Anand Sagar Pathak of For feedback, write to hello@ Also Read: Monthly Horoscope Virgo, August 2025 Weekly Horoscope Virgo, 28th July to 3rd Aug, 2025 Disclaimer Statement: This content is authored by a 3rd party. The views expressed here are that of the respective authors/ entities and do not represent the views of Economic Times (ET). ET does not guarantee, vouch for or endorse any of its contents nor is responsible for them in any manner whatsoever. Please take all steps necessary to ascertain that any information and content provided is correct, updated, and verified. ET hereby disclaims any and all warranties, express or implied, relating to the report and any content therein.
Time of India
an hour ago
- Time of India
World has too much steel, but no one wants to stop making it
At Tata Steel 's plant in IJmuiden on the outskirts of Amsterdam, cauldrons of lavalike molten steel are poured into long, thin trays that harden into identical 40-by-4-foot slabs of steel. The end products, though, are strictly haute couture. Every item is made to order: battery casings that do not leak, crumple-zone car parts that absorb the force of a crash, cans that safely preserve food for years. Explore courses from Top Institutes in Please select course: Select a Course Category MCA Public Policy Data Science Operations Management MBA Degree Data Analytics Leadership PGDM Cybersecurity healthcare Management Others others Digital Marketing Technology Design Thinking Artificial Intelligence CXO Project Management Data Science Healthcare Product Management Finance Skills you'll gain: Programming Proficiency Data Handling & Analysis Cybersecurity Awareness & Skills Artificial Intelligence & Machine Learning Duration: 24 Months Vellore Institute of Technology VIT Master of Computer Applications Starts on Aug 14, 2024 Get Details Very few companies in the world can produce this kind of advanced high-grade steel. Even so, Tata is being hit by the same forces that are pummelling every steelmaker: Manufacturers are producing more steel than the world can possibly use. Excess steel production is estimated to reach 721 million tons by 2027, according to the Organization for Economic Cooperation and Development. One answer would be to simply make less steel. The problem is that no country wants to be the one to stop producing a material that is considered essential to its economic and national security. Live Events Steelmaking has always held an outsize position as a symbol of economic power and prestige. It constitutes the fabric of modern life, used not only for buildings, roads, cars, refrigerators, electronics, forks and screws but also for weaponry, tanks and fighter jets. Over the past decade, a flood of cheap steel from China has transformed the global market. The country's mammoth collection of mills-built in part with government support and often lacking the environmental controls mandated in Europe-make more steel, as well as aluminium, than the rest of the world combined. As China's economy has slowed, more of these metals have been exported at cutthroat prices. The result is sinking prices, shrinking profits and unemployed workers. Measured by the kilogram, steel costs less than bottled water. Smaller revenues also mean less money to invest in new low-carbon technologies, which are essential to meeting the European Union's climate goals, the Organization for Economic Cooperation and Development warned in May. The European Union imposes trade penalties intended to stop China from dumping its cheap steel on its markets. But Chinese steel keeps coming, prompting countries that were not traditionally steel exporters, like South Korea and Japan, to join the hunt for buyers elsewhere. And now, aside from high energy and labour costs, aging technology and fierce competition from China, European steelmakers must also contend with punishing American tariffs. President Donald Trump imposed 50% tariffs on nearly all steel and aluminium imports last month. Britain is in a better position than most. Trump exempted British steel from the additional 25% tariff on steel and aluminium and has agreed to remove the remaining 25% tariff in the future. Still, Britain's aging plants are having trouble surviving. This spring, the government took over the British Steel complex in Scunthorpe, an industrial town in northern England. Last year, the government also helped bail out Tata Steel, which runs a large mill at Port Talbot in Wales, with a 500 million pound grant to transition to a greener electric arc furnace that melts recycled steel. In the Netherlands, Tata Steel 's plant in IJmuiden is in better shape. The site, which is the size of 1,100 soccer fields and sits next to a public beach, is one of the country's largest industrial employers. The plant is the second largest in Europe. At the moment, steel made with green hydrogen in electric arc furnaces and other greener production methods spew far less emissions but cost 30% to 60% more than conventional production, according to various estimates. And then there are the tariffs. Tata said in a statement that 12% of its sales were "US related" and that it passed on most of the 25% tariff that went into effect in March to its American customers, which include Ford Motor, Chrysler, Caterpillar and Duracell. But, the company added, it worries that with 50% tariffs "our steel may become too expensive." Economic Times WhatsApp channel )
Economic Times
an hour ago
- Economic Times
Taurus Daily Horoscope Today – 26th July 2025: The day brings a mix of emotional clarity and practical focus
Synopsis The day brings a mix of emotional clarity and practical focus. Venus will be transiting from the Gemini sign. The Moon will be in the Leo sign. You are urged to balance your logic with your heart in key decisions. ET Online Your creative thinking helps you shine professionally. You can do well in communication or marketing. Be cautious with details. Mercury being retrograde can cause technical or clerical and Jupiter in the Gemini sign can open doors for new income sources, but avoid overcommitting financially. A delayed payment or miscommunication may briefly unsettle your budget. Emotions run deep today, but your expression may be tricky. Mercury being retrograde can help to bring up past issues. You can use this as a chance to clear the air on respiratory and throat health. Mindful breathing and light exercises can help ease mental restlessness and physical by: Anand Sagar Pathak of For feedback, write to hello@ Also Read: Monthly Horoscope Taurus, August 2025 Weekly Horoscope Taurus, 28th July to 3rd Aug, 2025 Disclaimer Statement: This content is authored by a 3rd party. The views expressed here are that of the respective authors/ entities and do not represent the views of Economic Times (ET). ET does not guarantee, vouch for or endorse any of its contents nor is responsible for them in any manner whatsoever. Please take all steps necessary to ascertain that any information and content provided is correct, updated, and verified. ET hereby disclaims any and all warranties, express or implied, relating to the report and any content therein.
