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Samsung Electronics unveiled its latest foldable smartphones on Wednesday, keeping prices around the same level three years in a row as it seeks to challenge Apple's dominance in the premium market. The world's largest smartphone maker pioneered the segment in 2019, betting that it would appeal to consumers looking for a bigger screen to consume content, while its foldable displays keep the overall phone size compact. Foldable phones remain a niche product category, carving out 5% of the global premium smartphone market, although the sector has grown rapidly from just 0.3% in 2019, according to research firm Counterpoint. Samsung, a leader in the segment with 63% market share in the first quarter, is looking to accelerate the growth trajectory with an aggressive pricing plan and faster rollout, industry analysts said. The company on Wednesday priced its new clamshell Galaxy Z Flip5 at $999.99, and the wide Galaxy Z Fold5 to start at $1,799.99 in the United States, the ...

Toto Wolff admits that Mercedes face a "very difficult " task in 2023 in terms of closing the development gap to Red Bull and Ferrari. The 2022 season proved to be a difficult one for the Silver Arrows, with the W13 being affected by issues including porpoising from an early stage in the campaign. While there were signs of progress – along with a victory for George Russell at the penultimate race of the year in Brazil – the team finished third in the Constructors' Championship after being unable to match the pace of their rivals at the front of the pack. Wolff is feeling positive about the squad's chances of moving forwards in the next season, but acknowledges that it could be challenging. Wolff on 'difficult' development slope "I'm always a half-empty glass guy, and I see the risks," Wolff told the Beyond The Grid podcast. "As ...