Samsung Electronics 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 unveiled thinner, lighter new foldable phones as it aims to fend off Chinese competition in the higher-margin, premium segment. The Galaxy Z Fold 7 phone, above. REUTERS
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