South Korean technology company Samsung Electronics Co Ltd unveiled its latest flagship smartphones, the Galaxy S23 series on Thursday, which features upgraded artificial intelligence powered cameras, as the company aims to widen their stake in the highly competitive smartphone market.

The Galaxy S23 and S23+ handsets are built with a powerful 50-megapixel main camera, a 10-megapixel telephoto lens and a 12-megapixel ultra-wide lens, providing a professional shooting experience, even helping users to capture stunning photos in low light.

The Galaxy S23 series has received a serious upgrade across the board, from its enhanced 5000 mAh battery and improved cooling system to its next-level camera performance and faster graphic processing unit.

"More than ever, people turn to brands they trust for the tools on which they can depend to navigate our rapidly-changing world," said TM Roh, president and head of Mobile eXperience Business at Samsung Electronics, adding the demand for trusted performance pushes Samsung to deliver more meaningful innovations.

A report released by market research company Canalys said that global smartphone shipments fell 18 percent year-on-year to 296.9 million units in the fourth quarter of 2022. As demand dwindled, vendors shipped fewer than 1.2 billion units last year, leading to a 12 percent drop in annual shipments.

Samsung maintained its top spot in the market, claiming a 22 percent market share with 257.9 million shipments in 2022. Apple came second with shipments of 232.2 million and a 19 percent market share. Xiaomi came third with 152.7 million shipments and a 13 percent market share.

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