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Samsung is about to find out if Ultra is enough
Samsung is about to find out if Ultra is enough

The Verge

time2 days ago

  • The Verge

Samsung is about to find out if Ultra is enough

I don't often get asked about the phones I'm testing when I'm out and about, unless it's a folding phone. Then I usually hear some version of the same thing: 'Oh, I thought about getting one of those! But then I just got a [insert slab-style phone name here].' My anecdotal data matches the actual sales figures; there are many more people curious about folding phones than there are buyers of folding phones. Samsung would very much like that to not be the case, and, by all indications, it's about to pull out all the stops at at its Unpacked event on July 9th. But is putting the Ultra name on a folding phone enough? The weak sales are not for lack of trying — Samsung has been trying to sell us on foldables for a good chunk of the last decade, and Google also got in the game a couple of years ago. Motorola has had substantial success selling clamshell-style flip phones; Counterpoint Research found that the brand's foldable market share grew 253 percent year-over-year in 2024. But that's a bigger piece of a very small pie. TrendForce estimated that foldables made up just 1.5 percent of the overall smartphone market in 2024. In the US, Samsung was the earliest and loudest folding phone maker, but a half dozen iterations of folding phones hasn't managed to make a significant dent. It didn't help that Samsung's foldable lineup last year was a barely warmed-over version of the one from a year before. The Z Flip 6 was a spec bump with some software improvements; the Fold 6 trimmed a few millimeters here, added a few there, and laid flatter when you opened it — not exactly gripping stuff. Lucky for us, Samsung seems to have more excitement planned this time around. The company has all but confirmed that we'll get an Ultra-branded Fold for the first time, with a thinner profile to rival the recent efforts from Honor and Oppo. The Z Flip 7 is likely to get a bigger, Razr-style screen that covers most of the front panel, and we might see a cheaper FE version with the old cover screen design. That all seems to address a couple of common complaints about foldables: they're too pricey and come with too many tradeoffs compared to a slab-style phone. I'm not quite sure it'll be enough, though. Foldables remain more susceptible to damage from dust than a standard flagship phone — and repairs can be pricier. Despite saying years ago that it's pursuing full dustproofing, Samsung doesn't seem to have cracked the code on a fully IP68-rated foldable just yet. Taking a chance on an expensive phone that's less durable than your typical $1,000 flagship? That's kind of a big ask, especially with prices on everything else we buy going up, too. It's not all doom and gloom for foldables, however. Analysts are putting a lot of stock in rumors of a folding phone from Apple coming in 2026. An iFold or whatever it might be called could help expand the market, at least in the US, and maybe that rising tide would float Samsung's boat, too. Maybe a couple of new models hitting different price segments is enough to get Samsung's marketshare growing again — a strategy that has worked well for the company in the past. Maybe an Ultra foldable with ultra specs will convince some people who were on the fence about folding phones. And if anyone was holding out for an extra hinge, well, Samsung might just have that covered, too. Photography by Allison Johnson / The Verge

China's intense EV rivalry tests Thailand's local production goals
China's intense EV rivalry tests Thailand's local production goals

Time of India

time2 days ago

  • Automotive
  • Time of India

China's intense EV rivalry tests Thailand's local production goals

Hyper-competition in China's electric vehicle sector is spilling over to its biggest market in Asia, Thailand, as smaller players struggle to compete with dominant BYD , putting ambitious local production plans at risk. Neta, among the earliest Chinese EV brands to enter Thailand in 2022, is an example of a struggling automaker finding it difficult to meet the requirements of a demanding government incentive programme meant to boost Thai EV production. Under the scheme, carmakers are exempt from import duties, but were obligated to match import volumes with domestic production in 2024. Citing slowing sales and tightening credit conditions, carmakers asked the government to adjust the scheme and the 2024 production shortfall was rolled over into this year. Neta has said that it cannot produce the required number of cars locally and the government has withheld some payments to the EV maker, said Excise Department official Panupong Sriket, who received a complaint filed last month by 18 Neta dealers in Thailand seeking to recover over 200 million baht ($6.17 million) of allegedly unpaid debt. The complaint, a copy of which was reviewed by Reuters, also detailed missed payments by Neta related to promised support for building showrooms and after-sales service. "I stopped ordering more cars in September because I sensed something was wrong," said Neta dealership owner Saravut Khunpitiluck. "I'm currently suing them." Neta's parent company, Zhejiang Hozon New Energy Automobile, entered bankruptcy proceedings in China last month, according to state media. Neta and its Chinese parent did not respond to Reuters' requests for comment. MARKET SHARE DECLINE Neta's share of Thailand's EV market peaked at around 12% of EV sales in 2023 when the industry was growing, according to Counterpoint Research data, with BYD having a 49% share that year. In Thailand, a regional auto production and export hub, Chinese brands dominate the EV market with a combined share of more than 70%. The number of Chinese EV brands has doubled in the last year to 18, placing pressure on those that lack the reach of BYD, which has taken over from Tesla as the world's biggest EV maker. In the first five months of this year, new registration of Neta cars - a proxy for sales - slumped 48.5% from the prior year and its share of EV registrations was down to 4%, according to government data. "Neta's downturn in Thailand reflects the fragility of second-tier Chinese EV brands both at home and abroad," said Abhik Mukherjee, an automotive analyst at Counterpoint Research. "Intense price competition and the scale advantages of dominant players have made survival increasingly difficult for smaller companies, particularly in export markets, where margins are slim and robust after-sales support is essential." In Thailand, Neta's biggest international market, it sells three models, with the cheapest Neta V-II Lite priced at 549,000 baht ($16,924) before discounts, compared to market leader BYD's entry-level Dolphin model that is priced at 569,900 baht. Thailand's domestic auto market has become increasingly competitive amid a sluggish economy. "Some Chinese brands have slashed prices by more than 20%," said Rujipun Assarut, assistant managing director of KResearch, a unit of Thai lender Kasikornbank. "Pricing has become the main strategy to stimulate buying." China's EV overcapacity and price war have pushed automakers to expand abroad, but markets like Thailand are now mirroring the same hyper-competitive pressures, exposing smaller firms to similar risks. 'NO CONFIDENCE' Three years ago, Thailand unveiled an ambitious plan to transform its car industry, long dominated by Japanese majors like Toyota and Honda, to ensure at least 30% of its total auto production was EVs by 2030. The country, which exports about half of its auto output, has drawn more than $3 billion in investments from a clutch of Chinese EV makers, including Neta, who were partly lured to Southeast Asia's second-largest economy by the government incentive scheme. "Neta's case should give the Thai policymakers pause," said Ben Kiatkwankul, partner at Bangkok-based government affairs advisory firm, Maverick Consulting Group. Last December, after a sharp sales contraction, Thailand's Board of Investment gave EV makers an extension to the initial local production timeline to avoid oversupply and a worsening price war. Under the original scheme, local EV production in 2024 was required to match each vehicle imported between February 2022 to December 2023 or the automaker would incur hefty fines. Car manufacturers avoided those fines with the extension carrying over unmet production into this year, but at a higher ratio of 1.5 times imports. Thailand's Board of Investment did not respond to a Reuters request for comment. Siamnat Panassorn , vice president of the Electric Vehicle Association of Thailand, said Neta's issues were company-specific and did not reflect flaws in Thai policies or the market. But external shocks, including geopolitical tensions and the spectre of higher tariffs, have added to the pressure felt by the sector, he said. For Thai Neta dealers like Chatdanai Komrutai, the crisis is deepening. The brand's car owners have taken to social media in droves to share maintenance issues and limited after-sales support and a consumer watchdog agency is inspecting some of those complaints. "Selling cars is difficult right now," Chatdanai said. "There's no confidence."

China's intense EV rivalry tests Thailand's local production goals
China's intense EV rivalry tests Thailand's local production goals

Time of India

time2 days ago

  • Automotive
  • Time of India

China's intense EV rivalry tests Thailand's local production goals

Hyper-competition in China's electric vehicle sector is spilling over to its biggest market in Asia, Thailand , as smaller players struggle to compete with dominant BYD , putting ambitious local production plans at risk. Neta, among the earliest Chinese EV brands to enter Thailand in 2022, is an example of a struggling automaker finding it difficult to meet the requirements of a demanding government incentive programme meant to boost Thai EV production. Under the scheme, carmakers are exempt from import duties, but were obligated to match import volumes with domestic production in 2024. Citing slowing sales and tightening credit conditions, carmakers asked the government to adjust the scheme and the 2024 production shortfall was rolled over into this year. Neta has said that it cannot produce the required number of cars locally and the government has withheld some payments to the EV maker, said Excise Department official Panupong Sriket, who received a complaint filed last month by 18 Neta dealers in Thailand seeking to recover over 200 million baht ($6.17 million) of allegedly unpaid debt. Live Events The complaint, a copy of which was reviewed by Reuters, also detailed missed payments by Neta related to promised support for building showrooms and after-sales service. "I stopped ordering more cars in September because I sensed something was wrong," said Neta dealership owner Saravut Khunpitiluck. "I'm currently suing them." Neta's parent company, Zhejiang Hozon New Energy Automobile, entered bankruptcy proceedings in China last month, according to state media. Neta and its Chinese parent did not respond to Reuters' requests for comment. MARKET SHARE DECLINE Neta's share of Thailand's EV market peaked at around 12% of EV sales in 2023 when the industry was growing, according to Counterpoint Research data, with BYD having a 49% share that year. In Thailand, a regional auto production and export hub, Chinese brands dominate the EV market with a combined share of more than 70%. The number of Chinese EV brands has doubled in the last year to 18, placing pressure on those that lack the reach of BYD, which has taken over from Tesla as the world's biggest EV maker. In the first five months of this year, new registration of Neta cars - a proxy for sales - slumped 48.5% from the prior year and its share of EV registrations was down to 4%, according to government data. "Neta's downturn in Thailand reflects the fragility of second-tier Chinese EV brands both at home and abroad," said Abhik Mukherjee, an automotive analyst at Counterpoint Research. "Intense price competition and the scale advantages of dominant players have made survival increasingly difficult for smaller companies, particularly in export markets, where margins are slim and robust after-sales support is essential." In Thailand, Neta's biggest international market, it sells three models, with the cheapest Neta V-II Lite priced at 549,000 baht ($16,924) before discounts, compared to market leader BYD's entry-level Dolphin model that is priced at 569,900 baht. Thailand's domestic auto market has become increasingly competitive amid a sluggish economy. "Some Chinese brands have slashed prices by more than 20%," said Rujipun Assarut, assistant managing director of KResearch, a unit of Thai lender Kasikornbank. "Pricing has become the main strategy to stimulate buying." China's EV overcapacity and price war have pushed automakers to expand abroad, but markets like Thailand are now mirroring the same hyper-competitive pressures, exposing smaller firms to similar risks. 'NO CONFIDENCE' Three years ago, Thailand unveiled an ambitious plan to transform its car industry, long dominated by Japanese majors like Toyota and Honda, to ensure at least 30% of its total auto production was EVs by 2030. The country, which exports about half of its auto output, has drawn more than $3 billion in investments from a clutch of Chinese EV makers, including Neta, who were partly lured to Southeast Asia's second-largest economy by the government incentive scheme. "Neta's case should give the Thai policymakers pause," said Ben Kiatkwankul, partner at Bangkok-based government affairs advisory firm, Maverick Consulting Group. Last December, after a sharp sales contraction, Thailand's Board of Investment gave EV makers an extension to the initial local production timeline to avoid oversupply and a worsening price war. Under the original scheme, local EV production in 2024 was required to match each vehicle imported between February 2022 to December 2023 or the automaker would incur hefty fines. Car manufacturers avoided those fines with the extension carrying over unmet production into this year, but at a higher ratio of 1.5 times imports. Thailand's Board of Investment said in statement to Reuters on Saturday that Neta's issues were related to the financial situation of its parent firm and did not affect the Thai EV industry in the long-term. "The Thai government remains committed to the automotive sector and continues to promote policies supporting the EV industry and related technologies," it said. Siamnat Panassorn, vice president of the Electric Vehicle Association of Thailand, said Neta's issues were company-specific and did not reflect flaws in Thai policies or the market. But external shocks, including geopolitical tensions and the spectre of higher tariffs, have added to the pressure felt by the sector, he said. For Thai Neta dealers like Chatdanai Komrutai, the crisis is deepening. The brand's car owners have taken to social media in droves to share maintenance issues and limited after-sales support and a consumer watchdog agency is inspecting some of those complaints. "Selling cars is difficult right now," Chatdanai said. "There's no confidence."

China's trade-in programme boosts sales of foreign brands
China's trade-in programme boosts sales of foreign brands

South China Morning Post

time3 days ago

  • Business
  • South China Morning Post

China's trade-in programme boosts sales of foreign brands

Global brands including US tech giant Apple have recorded an unexpected bump in sales in China over recent months, as they reap the benefit of Beijing's giant consumption-boosting subsidy campaign. China has ploughed 300 billion yuan (US$40.9 billion) of funding from a special bond sale this year into the trade-in programme – which provides hefty discounts on goods ranging from cars to smartphones – as the government strives to raise domestic demand and offset the impact of US tariffs. The policy had already driven 1.1 trillion yuan in sales as of the end of May, according to data from the Ministry of Commerce, providing a boost to several major multinationals. Sales of iPhones in China grew by 8 per cent year on year in the second quarter of 2025, marking Apple's first quarter of positive sales growth in the country for two years, consulting firm Counterpoint Research said in a research note on Thursday. The report attributed the uptick to Apple's aggressive discount campaigns in May, which were bolstered significantly by China's national trade-in programme. The company cut prices for the iPhone 16 series ahead of China's '618' shopping festival on June 18. 'Second quarter performance has been propped up by the national subsidy for smartphones, but it looks like the programme will be scaled back during the latter half of the year,' the note said.

China's trade-in programme boosts sales of foreign brands
China's trade-in programme boosts sales of foreign brands

South China Morning Post

time3 days ago

  • Business
  • South China Morning Post

China's trade-in programme boosts sales of foreign brands

Global brands including US tech giant Apple have recorded an unexpected bump in sales in China over recent months, as they reap the benefit of Beijing's giant consumption-boosting subsidy campaign. China has ploughed 300 billion yuan (US$40.9 billion) of funding from a special bond sale this year into the trade-in programme – which provides hefty discounts on goods ranging from cars to smartphones – as the government strives to raise domestic demand and offset the impact of US tariffs. The policy had already driven 1.1 trillion yuan in sales as of the end of May, according to data from the Ministry of Commerce, providing a boost to several major multinationals. Sales of iPhones in China grew by 8 per cent year on year in the second quarter of 2025, marking Apple's first quarter of positive sales growth in the country for two years, consulting firm Counterpoint Research said in a research note on Thursday. The report attributed the uptick to Apple's aggressive discount campaigns in May, which were bolstered significantly by China's national trade-in programme. The company cut prices for the iPhone 16 series ahead of China's '618' shopping festival on June 18. 'Second quarter performance has been propped up by the national subsidy for smartphones, but it looks like the programme will be scaled back during the latter half of the year,' the note said.

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