SEOUL, July 10 (Reuters) - Samsung Electronics ( SSNLF )

unveiled its latest foldable smartphones on

Wednesday, making its priciest flagship model lighter and

slimmer and bolstering AI functions as it challenges Apple's ( AAPL )

dominance in the premium market.

Samsung is also offering more sophisticated health

monitoring functions to drive new demand for accessories such as

its smartwatch, as well as a new ring for easy health monitoring

and screen control.

The world's largest smartphone maker pioneered the foldable

segment in 2019, but Wednesday's launch is crucial as Samsung's

foldable phone shipment share fell from 81% in 2022 to 63% in

2023 with competitors surging into the market, according to data

provider Canalys.

In response, Samsung made the wide Galaxy Z Fold 6 its

lightest and slimmest ever to attract customers. The clamshell

Galaxy Z Flip 6 has a longer battery life, higher resolution

camera and a new vapour chamber to keep the phone cooler,

reducing pain points discovered through customer interviews.

The company on Wednesday priced the Z Flip 6 at $1,099.99,

and the Z Fold 6 to start at $1,899.99, hiking prices by just

$100 versus last year's model despite a steep jump in materials

costs and after keeping launch prices the same for three years.

Samsung offers new AI functions including a "listening mode"

that provides simultaneous interpretation by voice when paired

with Galaxy Buds earphones. It also worked with Alphabet's

Google for new AI search functions, including showing

a math problem's solution with all the steps when it is circled

on the screen.

A slew of new health functions was added to its Galaxy Watch

products, with new sensors and a 3-nanometre chip that tripled

application booting and processing efficiencies versus last

year's model.

It is now a U.S. FDA-approved monitoring device for sleep

apnea. It also provides measurements of a key cycling data

called functional threshold power (FTP) for biking enthusiasts,

and even measures a bio-marker related to diabetes called

advanced glycation end-products (AGEs).

Samsung's bet that health monitoring will drive new demand

culminates in the new Galaxy Ring, a product years in the

making.

At $399, it is light at 3 grams (0.1 ounce) or less, able to

be worn in the shower or while swimming, and can constantly

monitor heart rate and stress levels as well as help control a

Samsung phone's camera or alarm.

"Bringing AI-powered health and fitness features to

wearables will be important to differentiate" Samsung from other

smartwatch vendors, and is "core to attracting brand switchers

in the premium segment," said Jack Leathem, Research Analyst at

Canalys.

The products will be available starting July 24 in South

Korea, North America and Europe.