Samsung unveils wider foldable phone, hikes prices as chip costs rise
Samsung has launched new foldable smartphone models with increased pricing to offset rising memory chip costs. The company is facing heightened competition from Apple, which is expected to enter the foldable market soon.
Why it matters
The move reflects broader challenges in the consumer electronics industry, where supply chain costs and competitive pressures are forcing companies to adjust pricing strategies.
SEOUL, July 22 (Reuters) - Samsung Electronics on Wednesday unveiled a passport-sized foldable phone and raised prices of two updated foldable models, as it grapples with rising memory chip prices while bracing for a new threat from Apple in the niche but growing segment.
The South Korean technology company pioneered foldable smartphones but its dominance is set to be challenged by Apple which analysts expect this year to launch a foldable phone with a screen similar in size to an iPad mini.
"Strategically, this is one of Samsung's most important foldable launches," said Francisco Jeronimo, vice president at researcher IDC. "Samsung has to defend the category it created, and that's why it cannot play it safe."
Samsung unveiled the three Galaxy Z foldable models powered by Alphabet's Gemini artificial intelligence at an event in London.
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