Samsung Electronics says it aims to boost sales of foldable phones to 50 percent of its total premium smartphone volume by 2025.

Head of Samsung Electronics’ smartphone business Roh Tae-moon unveiled the company's latest devices, the Galaxy Z Fold 4 and Galaxy Z Flip 4, in New York on Wednesday local time, saying that the two models will quickly help raise the popularity of foldable phones in the global market.

Noting the steady demand for premium smartphones despite sluggish smartphone growth forecasts, Roh said Samsung will focus on increasing its share in the premium market.

He added that the company aims to hit sales of ten million units of foldable phones for the very first time.