Samsung Electronics to unveil newest series of foldable phones

Samsung Electronics Co.’s Galaxy Z Flip 5 photo leaked by a German tipster (information leaker)

Samsung Electronics Co. has announced its upcoming event, Samsung Galaxy Unpacked 2023: Join the flip side, to unveil a range of new products, including smartphones and tablets.

The invitation for the event was released, featuring the upcoming Galaxy Z Flip 5. As the event is the first Galaxy Unpacked to be held in Korea, the invitation incorporated Korean characters and iconic symbols of Seoul, such as N Seoul Tower and Gyeongbokgung Palace. The invitation also showcased the expected colors of the new products, including blue, green and purple.

The event is scheduled to take place at COEX in Seoul at 8 p.m. on July 26. Following the live broadcast, a special performance will be held at Seoul Plaza.

At the event, Samsung is anticipated to showcase its flagship foldable phones, Galaxy Z Flip 5 and Z Fold 5, along with the Galaxy Tab S9 and Galaxy Watch 6. Industry sources suggest that the Galaxy Z Fold 5 will feature internal improvements, such as an enhanced processor, while the Galaxy Z Flip 5 will likely have a larger external screen for improved convenience. According to IT tipster IceUniverse, the cover display size of the Galaxy Z Flip 5 is expected to be 3.4 inches, significantly larger than its current 1.9 inches.

Industry sources said they are closely monitoring the upcoming product launch in the overall sluggishness of the smartphone market. With device replacement cycles lengthening and declining demand for new products, the market has been experiencing a slowdown. In the first quarter of this year, local smartphone shipments in South Korea dropped by 15.6 percent on year, marking the fifth consecutive quarter of decline, according to market research firm IDC Korea Ltd.

However, there has been an increase in the share of flagship products priced at more than 1 million won ($800), which rose by 21.4 percentage points to 65.5 percent. That suggests that the high-end premium market is growing despite the overall market decline.

In the first quarter of this year, Samsung held a 22 percent share of the global smartphone market, slightly ahead of Apple Inc., which held a 21 percent share. However, Samsung’s lead was mainly attributed to sales of low-end models. In the sales of smartphones priced above 650,000 won, Apple’s iPhone series secured the top four spots, while Samsung‘s Galaxy S23 Ultra ranked fifth, according to Canalys, a market research firm.

Industry insiders are paying attention whether Samsung can regain ground against its competitors, including Chinese companies. Currently, Samsung dominates the foldable phone market, with a 62 percent share in 2022, outpacing Chinese vendors Huawei Technologies Co. at 16 percent and OPPO Electronics Corp. at 3 percent, according to Counterpoint Research.

However, the gap between Samsung and its competitors is gradually narrowing as the market grows. In the first quarter of this year, Samsung’s share of the foldable phone market declined to 45 percent, with significant gains made by Oppo at 21 percent and Huawei at 15 percent, as reported by market research firm DSCC in May.

The Chinese manufacturers have been releasing foldable phones every year to have emerged as a strong competitor to the Galaxy Z Fold. In particular, they seem to be expanding globally based on their high competitiveness in the domestic market.

Chinese smartphone maker Oppo released the Find N2 last year. Weighing 233 grams, it was the lightest foldable phone and relatively affordable at 8,999 yuan ($1,237.49), attracting a lot of attention from consumers worldwide.