Samsung introduces slimmer foldable phones to compete in premium market

Samsung Electronics unveiled thinner, lighter new foldable phones to compete with Chinese rivals in the premium segment. The company lost its smartphone crown to Apple in 2023 and faces competition from Huawei and Honor. Samsung aims to lead in AI-powered smartphones, emphasizing foldable phones with AI features. It plans to enhance cooperation with partners like Google for AI. Samsung introduced smartwatches with Google's AI voice assistant in New York. The company increased prices for Galaxy Z Fold 7 and introduced a cheaper version of Galaxy Z Flip 7. Analysts believe the new models address issues with foldable phones but may remain a niche segment. Samsung's dominance in foldable phones is challenged by Honor and Huawei. The company plans to focus on the U.S., Europe, and South Korea for foldable phone sales. Samsung is working on tri-foldable phones and accelerating smartphone shipments to the U.S. to counter U.S. tariffs. It is diversifying suppliers to tackle China's export curbs on rare earth materials.