SEOUL - Samsung Electronics unveiled on Tuesday its first multi-folding smartphone, in a bid to strengthen its position in a sector of the phone market where competition is expected to intensify.

The launch of the Galaxy Z TriFold marks Samsung's bid to reinforce its footing in a segment where rivals have been gaining ground, even as analysts say the high price and production challenges mean foldable devices are likely to remain a niche category for now.

The model, priced at about 3.59 million won ($2,440.17), unfolds into a 253.1 millimetre (10-inch) display, using three panels and it is nearly 25 percent larger than Samsung's latest foldable Galaxy Z Fold 7 model.

"I believe the foldable market will continue to grow, and the TriFold in particular could act as a catalyst that drives more explosive growth in key parts of the segment," said Alex Lim, Samsung Electronics Executive Vice-President and head of the Korea Sales & Marketing Office.

Lim said the new foldable device is intended for customers who specifically want it, rather than as a volume driver.

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The TriFold, produced in South Korea, will go on sale domestically on Dec 12 and be rolled out in Singapore and the United Arab Emirates within this year. The US launch is expected as early as the first quarter of next year.

The device features Samsung's largest battery in its flagship models and supports super-fast charging that powers the phone to 50 percent in 30 minutes.

Lim said memory chips and other component costs have been rising sharply, making pricing a "difficult decision".

Analysts said the TriFold is more likely to be a showcase of the new technology rather than a volume-driving flagship.

"The trifold is a first-generation product, and it's the first time a trifold design is being commercialized, so it’s hard to see Samsung pushing large volumes at this stage," said Ryu Young-ho, a senior analyst at NH Investment & Securities.

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He noted that while Samsung’s Galaxy Z Fold line has matured over seven generations with lower cost structures, "the trifold could still face issues around completeness or durability," making it important to assess how the market responds first.

Foldable phones are expected to account for less than 2 percent of the total smartphone market this year and will make up under 3 percent by 2027, according to Counterpoint Research.

Samsung's shipment share of the foldable market jumped to 64 percent in the third quarter, up from 9 percent in the previous quarter, Counterpoint said, illustrating how market share can whipsaw depending on the timing of product launches.

The firm forecasts the foldable smartphone market will grow 14 percent this year, followed by annual growth in the 30 percent range in 2026 and 2027 as Apple looks set to enter the segment.