Samsung's bet on foldable phones faces major test with slimmer new model
Samsung Electronics unveiled its thinner, lighter new foldable phones on Wednesday, July 9, at Duggal Greenhouse in the Brooklyn Navy Yard, New York, 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.
REUTERS VIDEO
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