Samsung unveils new version of folding smartphone

Samsung on Wednesday unveiled an upgraded version of its folding smartphone along with other devices aiming to jump-start sales of devices in a market hit hard by the global pandemic.

The Galaxy Z Fold2 was one of several new devices announced at a live-streamed event by the South Korean electronics giant, which recently lost the top position in the smartphone market to China-based Huawei.

Samsung also unveiled two versions of its oversized smartphone, the Galaxy Note20 and Galaxy Note20 Ultra, upgraded tablets called Tab S7 and S7+, a new Galaxy Watch3 smartwatch and its ergonomic wireless earbuds called Galaxy Buds Live.

"Never before have we relied on technology like we are today. It's how we are staying connected as we navigate the extraordinary challenges faced around the world," said T.M. Roh, head of mobile communications at Samsung Electronics.

"Technology must make life easier, not more complex. That's why we have introduced five new power devices. Alone, these devices are powerful tools to help you maximize work and play."

Samsung in the second quarter saw smartphone sales slip 29 percent compared with a year ago, according to research firm IDC, as the South Korean firm lost the top position to Huawei in a slumping global market.

Total smartphone sales were down 16 percent in the quarter, according to IDC, as consumers pulled back in the face of a pandemic-induced economic crisis.