Samsung unveils two new foldable smartphones in a bet on devices with bending screens

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Samsung Electronics on Wednesday unveiled two foldable smartphones as it continues to bet on devices with bending screens, a budding market that has yet to fully take off because of high prices.

The clamshell-designed Galaxy Z Flip 5 and Galaxy Z Fold 5, a larger device that opens and folds like a book, can be pre-ordered in certain markets including the United States and South Korea starting Wednesday.

All that technology comes with hefty price tags. In the United States, Flip 5 will start at around $1,000 while the Fold 5 is set at $1,800. Foldable devices accounted for around 40% of Samsung's high-end devices sold in South Korea last year and the share is expected to increase in 2023, TM Roh, chief of Samsung's mobile business, said during a meeting with a select group of reporters.

“The form factor is not something that's entirely new - it's actually something people have been very accustomed to for a long time,” Roh said, pointing to a reporter's notebook that folded.

 

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