South Korean technology company Samsung Electronics has unveiled its latest foldable smartphones, the Galaxy Z Fold7 and Galaxy Z Flip7, which come with multimodal artificial intelligence capabilities, as the company aims to grab a bigger slice of the highly competitive smartphone market.

Samsung Electronics Co. plans to begin selling a so-called trifold smartphone later this year, joining rival Huawei Technologies Co. in exploring a relatively untested market that pushes the boundaries of foldable technology.

Rumors have been swirling about the imminent release of a so-called "Galaxy G Fold" with three screens. Now, a Samsung executive appears to have confirmed their validity.