Samsung Electronics has unveiled its latest foldable phones in South Korea, pinning hopes on the splashy premium phones to help it regain lost ground in the luxury smartphone market. The South Korean company held the latest of its regular “Unpacked” international product launches in its home country for the first time as it seeks to lure consumers away from the Apple ecosystem with its annual refresh of foldable smartphones. The event on Wednesday was held to much fanfare in the glitzy Gangnam district of southern Seoul, attended by K-pop sensation BTS’s Suga, part of Samsung’s efforts to spur interest in its latest foldable phones. The prices of the phones, which will go on sale on August 11, will stay at the same level as their predecessors with the Flip at $999 and the Fold at $1,799.
South Korea, alongside a new series of Tab S9 Android tablets and the Galaxy Watch 6 running Google’s Wear OS software.
Samsung said that robust artificial intelligence demand led to more DRAM shipments than expected in the second quarter, compared with the first quarter.
“The memory business saw results improve from the previous quarter as its focus on high bandwidth memory (HBM) and DDR5 products in anticipation of robust demand for AI applications led to higher-than-guided DRAM shipments,” said Samsung.
The Digital Appliances Business plans to expand the Bespoke lineup globally and increase sales of energy-efficient products featuring the Energy Savings Mode on SmartThings, while Harman is expected to improve profitability with higher sales of consumer audio products.
The Company’s total capital expenditures in the second quarter stood at KRW 14.5 trillion, including KRW 13.5 trillion for semiconductors and KRW 0.6 trillion for displays. Spending on memory was concentrated on completing the P3 infrastructure and the P4 framework for mid- to long-term supply. Foundry investments continued to focus on fabs in Taylor, Texas and Pyeongtaek, Korea to address the demand for advanced nodes, while investments in displays focused on infrastructure and module production enhancements. “Samsung still has the advantage of experience, having learnt the hard way four years ago about how to make its products more durable,” said Ma. “[But] foldables alone won’t change Samsung’s fortunes in China, especially when homegrown heroes like Oppo, Huawei and Honor are in favour there with their own competing products.”
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