Samsung shares drop 1.5% as Apple's $1,999 foldable iPhone challenges its lead

Samsung Electronics shares fell 1.5% to 265,500 won on Thursday after Apple unveiled its first foldable iPhone, the $1,999 iPhone Duo, directly challenging Samsung's seven-year leadership in the category. The broader KOSPI also faced pressure from rising oil prices and Middle East tensions. Apple's entry follows years of Samsung iterating on durability, hinges, and crease technology since the original Galaxy Fold launched in 2019. IDC forecasts Apple will capture nearly one-third of the foldable market in 2026 and 40% in 2027, potentially shifting value share despite Samsung's continued unit growth. Analysts note Apple's massive iPhone installed base reduces switching friction, though Samsung retains advantages in multiple designs and price points. The iPhone Duo could also expand the overall foldable market, with pre-orders opening October 16 and sales October 23.