Samsung roasts Apple for being late to the foldables party
Samsung has launched a marketing campaign mocking Apple's late entry into the foldable smartphone market, while broader economic concerns regarding the U.S.-Iran conflict and inflation dominate market sentiment. Additionally, a proposal by President Trump to provide stimulus checks has faced bipartisan criticism due to concerns over federal debt.
Why it matters
The intersection of corporate rivalry, geopolitical instability, and domestic fiscal policy highlights the complex pressures currently facing the U.S. economy.
Hello, this is Anniek Bao writing to you from Singapore. Welcome to another edition of CNBC's Daily Open.
Apple is arriving at a party Samsung has mostly had to itself. And the South Korean firm didn't wait long to needle its biggest rival.
Hours after Apple unveiled the biggest shake-up to its iPhone release cadence in seven years — including its first foldable phone — Samsung rolled out a campaign aimed squarely at iPhone loyalists.
Elsewhere, markets have bigger things on their mind than phone shapes. U.S. crude surged as traders quietly gave up on a quick end to the Iran war.
U.S. crude climbed back above $100 a barrel this week, its highest level in more than three months, as the war between the U.S. and Iran ground on and fresh strikes hit tankers and infrastructure in the region.
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