Samsung unveils new foldable phones amid increasing competition and Apple's growing focus on AI technology.

• The new Samsung Galaxy Z Fold6 and Z Flip6 models have enhancements from their predecessors and incorporate artificial intelligence technology.
• The Galaxy Z Fold6, priced at $1,899.99, is a foldable device that folds out like a book, while the Galaxy Z Flip6, priced at $1,099.99, opens like a flip phone but with a bendable screen.
• Last month, Apple launched its big AI play with Apple Intelligence, its suite of AI features, intensifying competition in the market.

On Wednesday, Samsung unveiled its latest foldable smartphones, which are equipped with artificial intelligence features. The company aims to regain market share in a category it pioneered by persuading customers to upgrade their devices.

The Samsung Galaxy Z Fold6 and Z Flip6 were unveiled by the company, featuring advancements from their predecessors and incorporating Galaxy AI, a collection of the company's artificial intelligence capabilities.

The Galaxy Z Fold6, priced at $1,899.99, is a foldable device that resembles a book when opened. It features a 7.6-inch display and a triple-lens camera on the back, typical of high-end phones. Samsung claims this to be their thinnest foldable yet, measuring only 12.1 millimeters when folded.

The Galaxy Z Flip6 from Samsung is a flip phone with a flexible screen that starts at $1,099.99.

Samsung announced that both devices would be available from July 24 during its Galaxy Unpacked event in Paris.

As Samsung faces increasing competition in foldables and consumers hold onto their devices for longer, the company launches new products.

Paolo Pescatore, founder of PP Foresight, stated in an email to CNBC that the challenge of getting users to upgrade to new models, particularly the Fold, remains ongoing, as incremental improvements are perceived as insignificant, especially during times of financial constraint.

Samsung touts AI features

This year, major smartphone manufacturers have been emphasizing the AI capabilities of their devices in an effort to generate excitement about the technology and motivate customers to upgrade to more expensive models.

Samsung is capitalizing on the trend of consumers being willing to pay a premium for phones.

In 2019, Samsung pioneered the foldable smartphone market, but now it faces growing competition in this category.

Some of the key AI features Samsung talked about are:

• The "Interpreter" mode on the Z Fold6 by Samsung enables users to fold the phone in half and utilize both the back and inside screens. This feature translates conversations between two individuals speaking different languages, displaying the translation on the screen relevant to the person viewing it.
• Samsung's live translation feature, which was introduced earlier this year in its own phone app, is now being extended to third-party apps such as WhatsApp.
• The Z Flip6 will automatically suggest a reply based on a user's writing style without the need for manual input.

In January, Samsung launched its flagship S24 series with AI features, but analysts have questioned if the phones have enough appeal to motivate consumers to upgrade.

Pescatore stated that foldables are not yet popular among consumers, but Samsung remains committed to their development. However, more competitors are launching their own foldable devices, making it a competitive battleground for premium high-end devices.

Samsung's main competitor unveiled its major AI initiative last month with Apple Intelligence, its AI capabilities, intensifying the market competition.

"Apple Intelligence powers the new iPhone 16, which consumers are eagerly waiting for in September. They are taking their time with their next smartphone purchase and are keeping an eye on other announcements before making a decision," Pescatore said.