STORY: Samsung Electronics on Tuesday unveiled its first multi-folding smartphone to bolster its position in an increasingly competitive segment of the market.
The Galaxy Z TriFold unfurls into a 10-inch display using three panels - about 25% larger than Samsung's latest Galaxy Z Fold 7.
The model could be yours for a whopping $2,440.
Samsung Electronics Executive Vice President Alex Lim says the TriFold is like a special edition intended for customers who specifically want it.
"I believe the foldable market will continue to grow. Recently, Fold Seven has been receiving a lot of love, and we have learned a lot from that. The TriFold in particular could act as a catalyst that drives more explosive growth in key parts of the segment."
The TriFold will go on sale in South Korea on December 12 and be rolled out in China, Singapore, Taiwan and the United Arab Emirates within this year.
The U.S. launch is expected as early as the first quarter of next year.
Competition in the foldable smartphone market is set to heat up, with China's Huawei launching the first three-way folding phone last September.
Meanwhile, Apple is expected to release its first foldable next year.
However, such handsets remain a niche product for now.
Analysts at Counterpoint Research predict they will account for less than 2% of the total smartphone market this year, and will remain below 3% by 2027.
