Samsung Electronics unveiled its newest foldable cellphones on Wednesday in an attempt to challenge Apple’s hegemony in the premium market.
In an effort to challenge Apple’s dominance in the premium market, Samsung Electronics (005930.KS) showcased its newest foldable smartphones on Wednesday. This includes making its most expensive flagship model lighter and narrower and enhancing AI functions. Along with a redesigned ring for convenient screen control and health monitoring, Samsung is also introducing more advanced health monitoring features to spur demand for peripherals like its wristwatch.
The biggest smartphone manufacturer in the world, Samsung, created the foldable phone category in 2019, but according to data provider Canalys, the company’s shipping share of foldable phones dropped from 81% in 2022 to 63% in 2023 when competitors entered the market. This makes Wednesday’s announcement extremely important. To draw in customers, Samsung responded by making the wide Galaxy Z Fold 6 the lightest and slimmest it has ever been. With a redesigned vapor chamber to keep the phone cooler and a longer battery life derived from customer interviews, the clamshell Galaxy Z Flip 6 reduces pain points. It also boasts a better-quality camera.
The Z Flip 6 and Z Fold 6 were priced by the firm on Wednesday at $1,099.99 and $1,899.99, respectively. This is a mere $100 price increase over the previous year’s model, even with a sharp increase in material costs. The launch prices were held constant for three years. When paired with Galaxy Buds headphones, Samsung’s latest AI features include a “listening mode” that enables simultaneous interpretation via voice. Additionally, it was compatible with Alphabet’s (GOOGL.O) system, opening a new tab on Google for additional AI search features, such as displaying a math problem’s solution with all the steps when the cursor is over it.
Along with new sensors and a 3-nanometer chip that increased application booting and processing economies over last year’s model, Samsung added a plethora of new health capabilities to its Galaxy Watch products. Now, the FDA in the US has approved this sleep apnea monitoring gadget. For cyclists who enjoy riding, it also measures functional threshold power (FTP), an important cycling metric. Additionally, it monitors advanced glycation end products (AGEs), a biomarker associated with diabetes.
Years in the making, Samsung’s wager that health monitoring will spur fresh demand has paid off with the release of the new Galaxy Ring. It costs $399, is small at 3 grams (0.1 ounce) or less, wearable in the shower or while swimming, and has the ability to assist in controlling the camera or alarm on a Samsung phone in addition to continuously monitoring heart rate and stress levels. According to Jack Leathem, Research Analyst at Canalys, “bringing AI-powered health and fitness features to wearables will be important to differentiate” Samsung from other smartwatch suppliers and is “core to attracting brand switchers in the premium segment.” The goods will go on sale in North America, Europe, and South Korea on July 24.
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