Samsung unveils higher-priced foldable phones

Samsung unveiled new foldable smartphone models on Wednesday, with higher prices that the source linked to rising component costs tied to artificial intelligence demand.

The South Korean technology company launched the high-end products in London. The source said Samsung is seeking to maintain its position in the foldable smartphone market, where it has operated since 2019, ahead of a possible move by US rival Apple this year.

TM Roh, head of Samsung's mobile division, said the company was setting a new standard for foldables and advancing what he called the premium mobile experience.

The Galaxy Z Fold8 was presented as the most innovative device among the new models. It measures 4.5 millimetres thick when unfolded and has a 7.6-inch screen with a 4:3 aspect ratio, which the source said is optimized for video viewing. Its starting price is $1,900.

Paolo Pescatore, a technology analyst for PP Foresight, said the Galaxy Z Fold8 was the clear focus of the launch. He said it showed Samsung's dominance in foldables and its effort to expand the market with devices for different types of users.

Samsung's new top-range model is the Z Fold8 Ultra, the successor to the Z Fold7. Its retail price starts at $2,100. It measures 4.1 millimetres thick and weighs 215 grammes.

The Z Flip8, a smaller model aimed more at social media use, is the least expensive of the new devices, with a starting price of $1,200.

The source said the higher prices are caused by soaring costs for memory chips, which are in greater demand because of their role in artificial intelligence. It said Apple cited the same reason last month when it raised prices for Macs and iPads.

Francisco Jeronimo of telecommunications analyst group IDC said Apple was about to legitimize foldables for the mainstream if it enters the category, and said Samsung had to defend the market it created rather than play it safe.