Competition in the smartphone space has intensified with Samsung (SSNLF - Free Report) unveiling Galaxy Z Flip foldable phone and Galaxy S20 family of smartphones. The new devices are expected to give Samsung a competitive edge against the likes of Apple (AAPL - Free Report) Huawei and Xiaomi.
Notably, per Canalys data, Apple had a market share of 21.3% compared to Samsung’s 19.2% in fourth-quarter 2019. Huawei and Xiaomi had 15.2% and 9% market share, respectively.
Samsung also launched its upgraded Galaxy Buds+ wireless earphones, with 11-hour battery life in the earpieces and another 11 hours in the provided carry case.
The S20 series comes in three sizes, with S20 measuring 6.2 inches, S20+ measuring 6.7 inches and S20 Ultra measuring 6.9 inches. All three models have 5G capabilities and 120Hz displays.
Notably, the S20 Ultra comes with four rear cameras, including a 108-megapixel sensor as well as 100x zoom and 16GB of memory. The other models have 64 megapixels of maximum resolution and 30x max zoom.
Ultra is priced at $1399.99 while the cheapest model will cost $999.99. The phones will be available for pre-order from Feb 21.
Samsung is likely to benefit from the Galaxy S20’s 5G capabilities as Apple is yet to launch a 5G-enabled phone.
Moreover, the company is collaborating with various partners to build an open ecosystem rather than a closed one like Apple’s iOS.
Notably, Spotify (SPOT - Free Report) will be integrated into its Bixby voice assistant while the Samsung interface will come with deep Netflix integration. Samsung also partnered with Microsoft (MSFT - Free Report) to launch the Forza Street mobile game on its Galaxy store.
Galaxy Z Flip to Boost Competitive Prowess
The Galaxy Z Flip phone is expected to expand Samsung’s foothold in the foldable smartphone market where competition is poised to heat up with the upcoming launch of Huawei’s Mate X and Xiaomi’s foldable smartphone, currently referred to as Mi Flex.
However, the high cost of the phones could hurt the company’s prospects. Apple is looking to make iPhones more affordable and Xiaomi’s foldable phone is expected to cost half as much as Galaxy Fold.
Samsung sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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