South Korean tech behemoth Samsung Electronics Co Ltd. (OTC:SSNLF) is reportedly preparing to unveil its "Special Edition" Galaxy Z Fold 6 as early as next week.
What Happened: The much-awaited "Special Edition" Galaxy Z Fold 6, which has been a topic of discussion for a while, was initially expected to hit the market in late September.
However, the speculated date came and went without any official confirmation, but now the launch is set for Oct. 25, reported 9to5Google, citing a Korean publication, Financial News.
Last month, leaked images of the device unveiled a new camera module design and a "brushed" effect on the back. The device could also feature a sleek 10.6 mm profile and larger 6.5-inch and 8-inch displays,
However, the 'Special Edition' Galaxy Z Fold 6 is primarily expected to be available in China, with limited availability in other markets, the report noted.
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Why It Matters: This launch comes at a time when Samsung is facing stiff competition in the global smartphone market. Previously, it was reported that Samsung's market share dipped by 3% compared to last year, while Apple Inc. (NASDAQ:AAPL) saw a 1% increase.
A study has also revealed that Apple's iPhone users tend to retain their smartphones longer than Android users, indicating a higher brand loyalty.
This new launch could be Samsung's strategy to regain its market share and compete with Apple's growing dominance.
Last month, Qualcomm Inc. began preparing for the repercussions of losing a considerable share of its revenue from Apple. However, JPMorgan analyst Samik Chatterjee remained optimistic about the company's prospects in other markets, particularly with Samsung.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Photo courtesy: Rounak Jain
