Foldable revolution: Samsung working on more models

Samsung Electronics Co. is working on a pair of new foldable smartphones to follow its Galaxy Fold, seeking to seize an early lead in new market segment.

The South Korean manufacturer is said to be developing a clamshell-like device, and another that folds away from the user similar to Huawei Technologies Co.’s Mate X, people familiar with the matter said, asking not to be identified discussing internal plans. The $1,980 Galaxy Fold that Samsung plans to release in April folds inward like a notebook.

While it’s still too early to gauge how much demand there will be for smartphones with flexible screens, Samsung and other rivals are eager to gain an edge over Apple Inc. in the $495 billion industry, especially amid cooling sales. Xiaomi Corp. is working on a dual-folding phone, according to a video released in January. The iPhone maker hasn’t announced any plans for a similar gadget.