Samsung's New Foldables: A Bid for Dominance in a Competitive Market

Samsung Electronics introduced lightweight foldable phones as part of its strategy to reclaim market leadership and address challenges from Chinese competitors. Alongside new AI-powered technology, Samsung's push includes premium pricing strategies and collaboration with Google, despite the niche market for foldables.

Samsung Electronics launched new thinner and lighter foldable phones on Wednesday to face stiff competition from Chinese manufacturers in the premium sector, where it grapples with Apple for dominance. Despite new features that promise a unique mobile experience, analysts question whether the high-priced foldables can break out of their niche market.

The South Korean company, formerly the leader in mobile phones until losing the top spot to Apple in 2023, is also tackling a slump in profits from its chip business. Critically, Samsung is setting its sights on AI integration for smartphones, a goal emphasized by Samsung's mobile president Choi Won-joon, who plans partnerships with Google to advance this ambition.

During a New York event, Samsung presented smartwatches featuring Google's AI assistant and new foldable phones that promise enhanced performance and a more streamlined design. As Samsung navigates U.S. and global markets, it contends with competitive pressures from brands like Huawei, while preparing for future innovations like tri-fold phones.

(With inputs from agencies.)