Samsung launches retooled Fold5 and Flip5 at first-ever Unpacked event in South Korea


Alvin R Cabral
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Samsung Electronics has introduced retooled iterations of its foldable devices, as it seeks to cement its lead in the still niche but growing segment in the hotly contested smartphone market.

At its Unpacked event in Seoul on Wednesday, the world's biggest manufacturer of mobile phones unveiled the Galaxy Z Fold5 and Flip5, both of which now come with a redesigned hinge that eliminates the gap between their sides and makes them completely closed when folded.

While both devices have remained aesthetically similar to their predecessors and come with token upgrades, the clamshell-type Flip5 is arguably the bigger deal, as its cover screen is now up at 3.4 inches, which is nearly double its predecessors and will allow more flexibility and content to be shown.

The event is also noteworthy as it is the first time Unpacked has been held on Samsung's home turf, after the event that started in 2010 hopped to global cities including Las Vegas, Barcelona, Berlin, London, New York, Rio de Janeiro and San Francisco.

Both devices are now available for pre-order and will hit stores on August 11.

“We all crave human connection, maybe today more than ever, and mobile technology enables us to be truly motivated,” T.M. Roh, president and head of Samsung's mobile experience business, said in his keynote at Unpacked.

"When technology seamlessly adapts to the world around us, it allows us to be open to new ideas, new ways of thinking and new experience that otherwise we would never know."

Foldable devices remain a minor category in the overall smartphone market, but manufacturers are working to bring more of these into the market as consumer preferences shift.

The growth in popularity of foldable smartphones has been attributed mainly to Samsung, which pushed the category into the mainstream, starting with the Galaxy Z Fold in 2019. The company followed that with the Galaxy Z Flip the following year.

Shipments of foldable smartphones are forecast to quadruple by 2025 as original equipment manufacturers focus on the premium device business, Counterpoint Research said in a report last week.

Original equipment manufacturers are expected to ship about 55 million foldable devices by 2025, into a premium smartphone segment that grew by 1 per cent last year, compared with the overall smartphone market's 12 per cent decline, it said.

Samsung Galaxy Z Flip5 devices on display during a media preview in Seoul.
Samsung Galaxy Z Flip5 devices on display during a media preview in Seoul.

Demand for foldable smartphones is projected to post a compound annual growth rate of nearly half until 2027, and a key factor that will drive this will be enhanced design – specifically, its mechanisms and hinge, Anshul Gupta, vice president analyst at research firm Gartner, told The National.

Other factors will include "form factor differentiation, new and innovative ways of content creation and consumption, operating system maturity and improved user interface", he said.

That would play to the company's advantage, as it already leads the segment "with innovative design and apps and service ecosystem", Mr Gupta said.

Still, foldables "have just started to emerge as a significant category", he added, implying it would take some more time – and more reasons for consumers to make the switch – to make foldables a real threat to the dominance of traditional smartphones.

That being said, Samsung is still primed for the opportunity, given its head start and continued push: it holds a 62 per cent market share, well ahead of second-placed Huawei Technologies with 16 per cent, latest data from Counterpoint shows.

Among other notable brands that have their own foldables in the market are Oppo, Motorola and Google, which launched its first Pixel Fold in May.

Apple, the maker of the iPhone and Samsung's chief rival on top of the smartphone market, has also long been rumoured to be developing its own foldable device.

Samsung is revolutionising the mobile industry with foldables by setting the standard and continually refining the experience
T.M. Roh,
president and head of Samsung's mobile experience business

Samsung, which is due to report its second-quarter results on Thursday, intends to maintain its lead.

"I can tell you that we are never satisfied. We obsess over details in a never-ending pursuit of perfection," Mr Roh said.

Pre-orders for the devices are now live globally and they will hit stores starting on August 11.

In the UAE, the Flip5 is priced at Dh3,899 and Dh4,349, while the Fold5 is priced at Dh6,799 and Dh7,249, for 256GB and 512GB, respectively. A limited-edition 1TB version of the Fold5 is priced at Dh8,149.

Samsung also introduced the Galaxy Tab S9 series, which has been further optimised for productivity, especially with the S Pen, and the Watch6 series comprises the Watch6 and Watch6 Classic, featuring refined capabilities for health and activity.

The Settlers

Director: Louis Theroux

Starring: Daniella Weiss, Ari Abramowitz

Rating: 5/5

Infiniti QX80 specs

Engine: twin-turbocharged 3.5-liter V6

Power: 450hp

Torque: 700Nm

Price: From Dh450,000, Autograph model from Dh510,000

Available: Now

Cry Macho

Director: Clint Eastwood

Stars: Clint Eastwood, Dwight Yoakam

Rating:**

LA LIGA FIXTURES

Thursday (All UAE kick-off times)

Sevilla v Real Betis (midnight)

Friday

Granada v Real Betis (9.30pm)

Valencia v Levante (midnight)

Saturday

Espanyol v Alaves (4pm)

Celta Vigo v Villarreal (7pm)

Leganes v Real Valladolid (9.30pm)

Mallorca v Barcelona (midnight)

Sunday

Atletic Bilbao v Atletico Madrid (4pm)

Real Madrid v Eibar (9.30pm)

Real Sociedad v Osasuna (midnight)

AndhaDhun

Director: Sriram Raghavan

Producer: Matchbox Pictures, Viacom18

Cast: Ayushmann Khurrana, Tabu, Radhika Apte, Anil Dhawan

Rating: 3.5/5

Cultural fiesta

What: The Al Burda Festival
When: November 14 (from 10am)
Where: Warehouse421,  Abu Dhabi
The Al Burda Festival is a celebration of Islamic art and culture, featuring talks, performances and exhibitions. Organised by the Ministry of Culture and Knowledge Development, this one-day event opens with a session on the future of Islamic art. With this in mind, it is followed by a number of workshops and “masterclass” sessions in everything from calligraphy and typography to geometry and the origins of Islamic design. There will also be discussions on subjects including ‘Who is the Audience for Islamic Art?’ and ‘New Markets for Islamic Design.’ A live performance from Kuwaiti guitarist Yousif Yaseen should be one of the highlights of the day. 

The President's Cake

Director: Hasan Hadi

Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem 

Rating: 4/5

UAE v Gibraltar

What: International friendly

When: 7pm kick off

Where: Rugby Park, Dubai Sports City

Admission: Free

Online: The match will be broadcast live on Dubai Exiles’ Facebook page

UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)

Jigra
Director: Vasan Bala
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh
Rated: 3.5/5
UAE currency: the story behind the money in your pockets

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

While you're here
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European arms

Known EU weapons transfers to Ukraine since the war began: Germany 1,000 anti-tank weapons and 500 Stinger surface-to-air missiles. Luxembourg 100 NLAW anti-tank weapons, jeeps and 15 military tents as well as air transport capacity. Belgium 2,000 machine guns, 3,800 tons of fuel. Netherlands 200 Stinger missiles. Poland 100 mortars, 8 drones, Javelin anti-tank weapons, Grot assault rifles, munitions. Slovakia 12,000 pieces of artillery ammunition, 10 million litres of fuel, 2.4 million litres of aviation fuel and 2 Bozena de-mining systems. Estonia Javelin anti-tank weapons.  Latvia Stinger surface to air missiles. Czech Republic machine guns, assault rifles, other light weapons and ammunition worth $8.57 million.

Timeline

2012-2015

The company offers payments/bribes to win key contracts in the Middle East

May 2017

The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts

September 2021

Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act

October 2021

Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence 

December 2024

Petrofac enters into comprehensive restructuring to strengthen the financial position of the group

May 2025

The High Court of England and Wales approves the company’s restructuring plan

July 2025

The Court of Appeal issues a judgment challenging parts of the restructuring plan

August 2025

Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision

October 2025

Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange

November 2025

180 Petrofac employees laid off in the UAE

Kandahar%20
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The alternatives

• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.

• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.

• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.

2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.

• PayPal is probably the best-known online goods payment method - usually used for eBay purchases -  but can be used to receive funds, providing everyone’s signed up. Costs from 2.9 per cent plus Dh1.2 per transaction.

Updated: August 05, 2023, 1:16 PM