Samsung launches folding phone with 5G at nearly $2,000

SAN FRANCISCO/LONDON – Samsung Electronics Co Ltd on Wednesday unveiled a nearly $2,000 folding smartphone in a bid to top the technology of Apple Inc and Chinese rivals and reignite consumer interest amid slumping sales.

The Galaxy Fold will go on sale on April 26 and take advantage of new and faster 5G mobile networks. The device looks similar to a conventional smartphone, but then opens like a book to reveal a display the size of a small tablet at 7.3 inches (18.5 cm).

The device “answers sceptics who said that everything that could be done has been done,” DJ Koh, chief executive of Samsung Electronics, said at an event in San Francisco. “We are here to prove them wrong.”