Samsung has unveiled a highly anticipated smartphone with a foldable screen in an attempt to break the innovation funk that has beset the market.

After nearly five years of developing the technology underlying its foldable-screen phone, Samsung is clearly hoping for a big payoff.

If Samsung is right, the Galaxy Fold will spur more people to upgrade their phones. Overall smartphones sales peaked in 2017; Samsung saw its smartphone sales fall 8 percent last year, based on estimates from the research firm International Data Corp.

Samsung also released new Galaxy S10 phones that echo the features in other recent models.

Those improvements aren't a big leap from the smartphones released during the past few years by Samsung, Apple and other top manufacturers.

Samsung is offering a slightly smaller S10 model for $750 in an attempt to make smartphones more affordable, but the higher-end models sell for $900 and $1,000 .

Huawei, which is threatening to overtake Apple as the world's second-biggest seller of smartphones, has promised to use the Spain showcase to preview its own device with a foldable screen and the ability to connect to 5G networks as they become operational during the next few years.

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