Samsung Electronics has introduced two new foldable smartphones, the Galaxy Z Flip 5 and Galaxy Z Fold 5, in its ongoing efforts to capitalise on the foldable screen market.

These devices will be available for pre-orders in select markets, including the US and South Korea.

Equipped with 6.7-inch and 7.6-inch main screens, the phones offer larger displays than Samsung’s previous folding devices and come with advanced cameras for improved visuals and enhanced features.

The Galaxy Z Flip 5 is designed to be compact and easy to carry, featuring a 3.4-inch cover screen that allows it to be used when folded.

Both phones run on Qualcomm’s Snapdragon 8 Gen 2 processor chips and are built to be more durable and shock-resistant compared to their predecessors.

However, the technology comes with significant price tags, with the Flip 5 starting at around $1,000 and the Fold 5 priced at $1,800 in the US.

Samsung has been a pioneer in the foldable phone market, with optimism that the global demand for foldable phones is growing, driven by competition from other vendors like Google, Motorola, and Huawei.

According to a report from Counterpoint, global shipments of foldable phones are expected to reach nearly 19 million units in 2023, with a potential for over 100 million units by 2027, especially if Apple launches a foldable iPhone by 2025.

However, Apple has not confirmed any plans for such a device yet.