Samsung Electronics on Wednesday unveiled thinner, lighter new foldable phones as it aims to fend off Chinese competition in the higher-margin, premium segment that remains untapped by arch rival Apple.

The South Korean giant lost its global smartphone crown to Apple in 2023, and faces growing competition from Huawei and Honor.

Research firm Canalys predicts Samsung’s foldable shipments, which peaked in 2022, will remain flat or slightly declining in 2025, in line with the broader market’s flat growth. Samsung’s foldable smartphones account for 4% of its total phone sales but 16% of those priced over $800, Canalys said.