Samsung Electronics unveiled new, thinner and lighter foldable smartphone models in New York on Wednesday, with the aim of containing the rise of its Chinese competitors in the premium segment of the market, a strategic area where Apple is still lagging behind but could stay in the race.

With this new offensive, the South Korean group hopes to revive its dominance in foldable devices, a category that is still marginal but promising, representing only 1.5% of the global smartphone market according to IDC, but 16% of Samsung's high-end phone sales (over $800), according to Canalys data.

Slimmer devices powered by AI

The Galaxy Z Fold 7, the successor to the Fold 6, is 10% lighter and 26% thinner. It is equipped with Qualcomm's Snapdragon 8 Elite processor. However, Samsung has increased its price in the US by 5% to $1,999. In contrast, the Galaxy Z Flip 7 FE, a more affordable version of the flip phone, is priced at $899 and features an in-house Exynos chip.

Choi Won-joon, recently appointed president of the mobile division, told Reuters that his priority was to position Samsung as a leader in AI-powered smartphones. "I think foldable phones with AI features are ready to go mainstream," he said in his first interview since his promotion in March.

Samsung is keen to set itself apart from Apple by forging close partnerships with players such as Alphabet, whose Gemini voice assistant now powers its new smartwatches. These watches can, for example, recommend running routes based on the user's location.

Increased competition, stagnating market

Samsung is facing increasing pressure on several fronts. The company lost its global leadership in the smartphone market to Apple in 2023 and is facing strong competition from Huawei and Honor, whose sales are growing rapidly, particularly in China.

According to Canalys, Samsung's global sales of foldable smartphones, which peaked in 2022, are expected to stagnate or even decline slightly in 2025, mirroring the overall sluggish market. The firm has observed an erosion of Samsung's market share in favor of its Chinese rivals, which are attracting consumers with more compact and innovative products.

Despite these challenges, Samsung is maintaining its strategy of moving upmarket. In April, the company had already stated its intention to strengthen its position in the premium segment, even as threats of US tariffs pose a risk to demand and component costs.

Choi said Samsung had accelerated smartphone shipments to the US in anticipation of possible tariffs. The company assembles more than half of its phones in Vietnam, but also has factories in South Korea and India.

Finally, in response to Chinese restrictions on exports of rare earths and magnets, Samsung has diversified its suppliers and increased its strategic stocks.

At a press conference on Wednesday, TM Roh, president of the Device Experience division, confirmed that Samsung is working on a tri-foldable phone that can be folded into three, with a launch planned for the end of the year.