Samsung releases new foldable smartphone

Samsung Electronics has unveiled its latest foldable smartphone by teaming up with telecom carrier China Telecom, in a bid for a bigger portion of the market share in the world's largest smartphone market.

The 5G-enabled W23, which is equipped with a 7.6-inch main screen and a 120 Hz adaptive refresh rate, serves as a tablet when fully opened and becomes a phone when closed. The W23 Flip can fold into the size of a wallet and fit in most people's pockets or bags.

Global foldable smartphone shipments will likely grow 73 percent year-on-year from 9 million units in 2021 to 16 million units this year, and the figure is projected to rise to 26 million units in 2023, according to a report from market research company Counterpoint Research.

Foldable smartphones are still the fastest-growing smartphone product category this year, and the strong growth defies current economic headwinds as the high-end phone market shows resilience and a steady demand, said the report.

Samsung held a 62 percent market share in foldable smartphones across the globe in the first half of 2022, followed by Huawei and Oppo, which accounted for 16 percent and 3 percent share respectively, it added.

Global consultancy International Data Corp estimated that worldwide shipments of foldable phones will reach 41.5 million units in 2026, with a compound annual growth rate of 38.7 percent from 2021 to 2026.

fanfeifei@chinadaily.com.cn