Samsung shares drop 1.5% as Apple's 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 lead in the category. Apple's entry follows Samsung's 2019 Galaxy Fold launch and years of durability improvements. IDC projects Apple will capture nearly one-third of the foldable market in 2026 and 40% in 2027, with an estimated 10 million Duo units sold in its first year. Samsung may still benefit from broader foldable adoption, as Apple's premium pricing and single design leave room for Samsung's multiple models. Pre-orders open October 16, with sales starting October 23.