Samsung will unveil new foldable phones next month

Seoul: Samsung Electronics said on Wednesday it will unveil its latest foldable smartphone series next month as the tech giant aims to make a breakthrough in the stalled smartphone business. The next-generation foldable smartphones, Galaxy Z Flip 4 and Galaxy Z Fold 4, are expected to be showcased at the Galaxy Unpacked online event, “Unfold Your World,” which is scheduled to take place on August 10.

The teaser promo video of the event, released on Wednesday, said nothing about the specs of the upcoming phones.

The clamshell-style Galaxy Z Flip 4 appears to have a slightly thinner hinge connecting the two halves of the phone than the previous model that came out about a year ago, Yonhap news agency reported.

The new smartphone series comes at a time when the world’s largest smartphone maker, like many other consumer equipment companies, is facing headwinds from global economic problems that leave consumers with less money to spend on non-essential goods.

Samsung’s smartphone shipments are estimated to be around 61 million units in the second quarter, a 16 percent drop from the previous quarter.

Operating profit of the company’s smartphone division is expected to fall $459 million in the second quarter from a year ago to 2.6 trillion won.

According to industry tracker Counterpoint Research, Samsung will dominate the market until 2023 with a market share of 75 percent.

There is also speculation that Apple will enter the foldable market in the coming years.


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