Samsung Electronics unveiled its latest high-end foldable smartphones on Wednesday with lower prices than last year’s offerings in a push to expand foldable demand beyond niche devices.

The tech giant priced its 5G-enabled Galaxy Z Fold3 with 7.6-inch main screen to start at $1,799.99 in the United States, and clamshell Galaxy Z Flip3 at $999.99 – down from the launch prices of last year’s models at $1,999 and $1,380, respectively.

The Galaxy Z Fold3 and Z Flip3 will launch on August 27 starting in markets such as the United States and Europe.

Foldable phones, with about 8.6 million units expected to be shipped this year, are expected to account for just 0.6 per cent of estimated 1.447 billion smartphones to be shipped.

However, that is more than double the 3 million foldables shipped in 2020, and Samsung will lead the market with over 88 per cent market share, according to Counterpoint Research.

Besides price drops that analysts said could help capture more demand in the United States and perhaps China, Samsung’s foldable unveiled on Wednesday touted lighter, thinner and improved design, durability, and compatibility with a stylus, which could absorb users of Samsung’s Galaxy Note phablets whose key feature is the “S Pen”.

Samsung also unveiled new smartwatches and earbuds on Wednesday with fresh designs and functions. Brisk sales of such high-margin accessories have added to the mobile division’s profitability in recent quarters.