Samsung launches latest foldable phones in the face of rising competition and Apple's AI play

PARIS — Samsung launched its latest foldable smartphones on Wednesday, and they are packed with artificial intelligence features. The South Korean tech giant hopes to regain share in a product category it pioneered by convincing users to upgrade their devices.

The company took the wraps off the Samsung Galaxy Z Fold6 and Z Flip6, which come with improvements from the previous models and are enhanced with Galaxy AI, the company's suite of artificial intelligence features.

Samsung's Galaxy Z Fold6, which starts at $1,899.99, is a foldable device that opens out like a book. The smartphone has a 7.6-inch display when open and boasts a triple-lens camera on the back, as has become standard for high-end phones. Samsung said this is the company's thinnest foldable so far at just 12.1 millimeters thick when folded.

Samsung's Galaxy Z Flip6 opens like a traditional flip phone but with a bendable screen. The handset starts at $1,099.99.

Both devices are available starting July 24, Samsung said at its Galaxy Unpacked event in Paris.

The launches come as Samsung faces rising competition in foldables and consumers continue to hold on to their devices for longer.

"The ongoing challenge remains of getting users to upgrade with what is perceived to be incremental improvements on previous models especially for the Fold; more so when everyone are tightening their belts," Paolo Pescatore, founder of PP Foresight, told CNBC by email.

All major smartphone makers have been touting the AI features of their devices this year to capitalize on excitement around the technology and to attempt to give users a reason to upgrade to more expensive handsets.

One big trend Samsung is trying to take advantage of is the fact people are willing to pay more for