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Is Samsung’s Foldable Phone Returning to Haunt Apple?

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On Wednesday, Samsung (SSNLF) announced that its previously launched Galaxy Fold phone would be ready for a relaunch in September. As the smartphone had some issues just after its initial launch, the company took the time to evaluate the product’s design.

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The issues with Samsung’s foldable phone

On February 20, Samsung introduced the Galaxy Fold smartphone with a 7.3-inch Infinity Flex display, which can be folded and made compact. However, the product had setbacks, and the company immediately recalled it before it could be in customers’ hands.

Samsung’s changes to the Galaxy Fold

Samsung made some design changes to the Galaxy Fold. The top protective layer of the Infinity Flex display is now extended and better protects the device from external particles. Metal layers underneath the screen provide additional protection, and the space between the hinge and body of the Galaxy Fold is now smaller.

Samsung claims to have worked on improving users’ overall Galaxy Fold experience. It didn’t specify the phone’s cost in Wednesday’s announcement.

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Apple faces stiff competition

Apple (AAPL) has been feeling the heat of declining iPhone sales. At the beginning of this year, CEO Tim Cook slashed the company’s first-quarter guidance due to declining iPhone sales, particularly in the Chinese market. With the launch of the Galaxy Fold, Apple faces another major challenge. TechRadar reported that Apple plans to launch three new versions of the iPhone 11 in September.

The market and other tech stocks

As of 2:38 PM ET on Thursday, Apple stock was down 0.54%, while the S&P 500 was down 0.44%. After boosting the Nasdaq Composite on Wednesday, tech stocks have shown average performance. Netflix was up 2.8% Thursday afternoon after rallying ~3.0% on Wednesday. IBM was up 0.13%, while Alphabet, NVIDIA, Qualcomm, Intel, Facebook, Amazon, and Micron had fallen 0.04%, 3.1%, 0.76%, 1.6%, 2.9%, 0.76%, and 0.69%, respectively.

Samsung has “always focused on pioneering the next generation of mobile innovation.” We’ll have to wait and see how consumers react to its foldable display. Meanwhile, will Apple’s new iPhones capture the market?

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