Samsung unveils its new foldable Galaxy Z phone

Korean cell phone maker Samsung on Tuesday unveiled its latest smart phone, the foldable Galaxy Z Flip...

(NATSOUND)(ENGLISH) MARKETING DIRECTOR OF SAMSUNG ELECTRONICS, REBECCA HIRST, SAYING:

"But this is no ordinary smart phone"

..Which the company hopes will set it apart from its rivals Apple and Huawei.

The Z Flip, which is available this Friday, will feature the industry’s first foldable glass display - resembling a square makeup compact when folded - but matches the dimensions of most other smartphones in the market once opened.

Starting at $1,380, the Z Flip is significantly more expensive than Apple’s high-end iPhone 11 Pro model, which starts at $999.

(NATSOUND)(ENGLISH) MARKETING DIRECTOR OF SAMSUNG ELECTRONICS, REBECCA HIRST, SAYING:

"And we are just getting started..."

This is not the first time Samsung has tried its hand at a foldable phone…

Last year it introduced the Galaxy Fold, which featured a plastic display, but was largely panned in its debut.

As part of Tuesday’s debut, Samsung also unveiled three new versions of its flagship Galaxy S series.

The Galaxy S20 features powerful new cameras that now allow users to record in 8K with fast 5G wireless connectivity.

(SOUNDBITE)(ENGLISH) HEAD OF U.S. MOBILE PRODUCT MANAGEMENT, DREW BLACKARD, SAYING:

"8K is the future of video. And now you can shoot it yourself, right from your phone."

Samsung needs a winner to regain momentum.

It lost its No.1 smartphone position to Apple in the December quarter, according to the International Data Corporation, as cheaper iPhone 11 pricing helped the Apple enjoy its best growth performance since 2015.

Globally, Samsung also faces stiff competition from Huawei Technologies Co Ltd, which was a close third in market share in the fourth quarter, although the Chinese company is caught in a battle with Washington over security and technology, especially 5G.