Samsung on Wednesday announced three new foldable phones in its latest push to popularize what the company believes is the future of smartphones.

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

Samsung Electronics launched new foldable phones to combat Chinese competition in premium markets. They focus on AI integration to differentiate from Apple. Despite foldables being a niche market, they form a crucial part of Samsung's premium strategy.

Samsung is going all in on its Apple Watch-like band connector with the Galaxy Watch 8 series, ditching traditional pins.

Samsung is expected to introduce its Galaxy Watch 8 lineup at Unpacked on July 9. Earlier this year, Samsung dropped from 3rd to 4th place in global smartwatch sales. Sales in North America and Europe have been particularly hard hit.

Samsung Electronics introduced lightweight foldable phones as part of its strategy to reclaim market leadership and address challenges from Chinese competitors. Alongside new AI-powered technology, Samsung's push includes premium pricing strategies and collaboration with Google,