Samsung Electronics released its latest foldable smartphone on Wednesday, at roughly the same price for the third year in a row as the company takes another swipe at Apple.
, although the sector has grown rapidly from just 0.3% in 2019, according to research firm Counterpoint.
Attendees walk past a big screen showing the Samsung Galaxy Z Fold5 phones during the Samsung Galaxy Unpacked event in Seoul on July 26, 2023. Samsung held 63% of market share over the first quarter and is now speeding up its growth rate with an aggressive pricing plan and faster rollout, industry analysts said.Global foldable smartphone shipments are projected to reach 19 million units this year, up about 45% from 13.1 million in 2022, according to Counterpoint.
Meanwhile, Apple had a 75% share of the premium smartphone market priced at $600 or above in 2022, versus Samsung's 16%.A Samsung Electronics Co. Galaxy Z Fold 5 smartphone and a Galaxy Z Flip 5 smartphone on display during the Galaxy Unpacked event in Seoul on July 26, 2023.
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