Samsung Electronics reportedly revealed plans to hold its first Galaxy Unpacked event in its home market, shunning its past strategy of device unveilings in the US and Europe for what is expected to be its latest range of foldables.

Various outlets reported the event will take place at Coex Convention and Exhibition Centre in Seoul in late July, citing a now deleted Samsung statement.

Yonhap News Agency reported Samsung had stated it was shifting direction for its foldable launches to focus on “different trend-leading cultural cities around the globe that closely align with the designated theme of each event”.

Ben Wood, chief analyst at CCS Insight, stated in a LinkedIn post he sees the move as a clear statement of intent, “showing confidence in its own heritage” and domestic strengths.

Global shipments of foldable smartphones declined 8 per cent year-on-year in Q1 to 1.9 million units, with Samsung leading on a 48 per cent share, data from Display Supply China Consultants showed.

Samsung unveiled a trio of flagship models in the S23 series at its previous Galaxy Unpacked event in February.