Samsung is set to host its second big product launch of the year on August 11.
The South Korean technology company is expected to unveil two new foldable smartphones and a new smartwatch.
New products will help the company to diversify its current portfolio and attract more customers while strengthening its premium line-up of electronic devices, industry analysts said.
Samsung launched its premium Galaxy S21 phone series in January.
Here's what to expect from the Galaxy Unpacked event on August 11 that is being held online because of the Covid-19 pandemic.
Two new foldable smartphones
Samsung, which was first to introduce foldable technologies in smartphones in 2019, will launch two new devices in the category – Galaxy Z Fold 3 and Galaxy Z Flip 3, industry insiders said.
The company is also expected to introduce the S Pen stylus, the signature feature of the premium Note series phones, to the new foldable devices to attract more niche professional users.
Samsung, which holds nearly 75 per cent of the foldable smartphone industry, currently offers three foldable models.
Why is Samsung pinning its hopes on foldables?
The IT and mobile communications arm at Samsung reported a 22.4 per cent quarterly decline in sales in the April-June period to 22.7 trillion Korean won ($20 billion), influenced by a “component supply shortage” in the industry, as well as “production disruptions in its Vietnam factory”.
The company said it planned to achieve “solid revenue and profit by boosting the competitiveness of the product line-up with the launch of new foldable models and the expansion of mass market 5G phones”.
Will Samsung scrap the Note series?
Samsung is unlikely to release its Galaxy Note series smartphones at the coming event to reduce production pressure on the company.
Samsung usually issues its Note series, one of its best-selling models known for its stylus S Pen, in August every year.
“Note series is positioned as a high-end model in our business portfolio … it could be a burden to unveil two flagship models in a year so it might be difficult to release Note model [in second half] … we seek to release a Note model next year,” DJ Koh, co-chief executive of Samsung's IT and mobile communications division, said during an annual shareholders meeting in March.
The high-end Note series made up nearly 5 per cent of Samsung’s global smartphone shipments over the past two years, the International Data Corporation said.
A new smartwatch
The company is expected to launch its new smartwatch Galaxy Watch 4 that will come with a combined operating system from Google and Samsung.
To challenge the dominance of Apple Watch, which has been the best-selling smartwatch for many years, Samsung has merged its Tizen OS with Wear OS.
New ear buds
Samsung will launch new Galaxy Buds 2 to compete with the likes of Apple’s AirPods and AirPods Pro.
Being developed under the code name "berry", the new buds will be able to connect to several devices at the same time, TechRadar said in a report.
They will be priced at about $175, MySmartPrice said.
How do I watch the event?
Samsung’s event will start at 6pm UAE time on August 11. Viewers can tune in at Samsung’s website.
You can also watch the event on company’s YouTube page with the link going live an hour before the event begins.
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Islamophobia definition
A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.
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UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Europe's top EV producers
- Norway (63% of cars registered in 2021)
- Iceland (33%)
- Netherlands (20%)
- Sweden (19%)
- Austria (14%)
- Germany (14%)
- Denmark (13%)
- Switzerland (13%)
- United Kingdom (12%)
- Luxembourg (10%)
Source: VCOe
