An invitation poster sent from Samsung Electronics on Wednesday shows a new foldable phone to be unveiled online, August 10. Courtesy of Samsung Electronics

By Baek Byung-yeul

Samsung Electronics will soon introduce new foldable smartphones ― possibly called the Galaxy Z Fold 4 and the Galaxy Z Flip 4 ― in a bid to increase its presence in the premium phone market and solidify its image as a bold trailblazer in the new world of foldable phones, according to the company, Wednesday.

Samsung sent an invitational letter to global media and its partner companies saying it will hold the "Samsung Galaxy Unpacked 2022: Unfold Your World" online event on Aug. 10.

"Innovation isn't just about radical ideas; it's about unlocking new experiences that transform our daily lives for the better. Meaningful innovations go beyond the technical and provide a platform upon which our everyday lives become richer and more versatile ― opening us up to greater possibilities than ever before," Samsung said in a statement.

"To see how these possibilities will come about, join Samsung Electronics on Aug. 10 to learn how the company is pushing boundaries, defying conventions and opening doors to new experiences."

Though the company didn't reveal the specifics of its new products, it is expected to unveil new crops of the foldable phones at the event. Also, the company looks to introduce new wearable devices such as a smartwatch and wireless Bluetooth earbuds.

The industry view is that Samsung may begin receiving preorders for new devices on Aug. 16 for an official release date of Aug. 26.

The two types of foldable phones will be much more advanced than their predecessors in terms of hardware. Both devices are expected to use Qualcomm's latest Snapdragon 8+ Gen 1 chipset as their application processors and they will also support an embedded subscriber identity module (eSIM) feature, which is more advanced than a physical SIM card, enabling users to change networks much faster.

The Galaxy Z Fold 4 will have a wider screen from side to side and the interior screen that appears when unfolding the device will have larger dimensions than the previous models.

The device is also expected to weigh less than its predecessor. Samsung reportedly reduced the weight by applying a single hinge instead of the previous version that used two.

The Galaxy Z Flip 4 is believed to have a similar appearance as its predecessor, but a larger-capacity battery.

Samsung is betting big on the foldable phones as it aims to increase its share in the high-priced smartphone market. The company is reportedly known to have produced around 15 million Z Fold 4 and Z Flip 4 phones, which is almost double compared to last year's foldable phones.

The bold move comes as the company has to compete with Apple, which has the higher-priced smartphone segment cornered, and Chinese rivals that have released or are preparing to release cheaper foldable phones.

Samsung pioneered the foldable smartphone market in 2019 with the Galaxy Fold.