Image:Samsung.

Samsung has unveiled its second folding phone, a "Z Flip" model with a lofty price tag aimed at "trendsetters."

The Galaxy Z Flip will be available beginning Friday at a starting price of $1,380, head of Samsung product marketing in Rebecca Hirst said at a San Francisco unveiling.

"It changes everything -- space, size, and the very way we use it," Hirst said as she held a Z Flip in the palm of a hand.

"The Z Flip is a statement smartphone; it is for trendsetters and trailblazers."

When closed, the Z Flip displays notifications such as time and phone calls, and can still be used to take photos.

The new device comes amid growing interest in folding handsets, and a similar "flip" Razr device recently introduced by Motorola.

Samsung also introduced a new Galaxy S 20 Ultra flagship model for its line-up of smartphones synched to new 5G telecommunication networks.

"5G will completely change how we communicate, how we game, and how we engage with the world around us," Samsung head of US mobile product management Drew Blackard said during the presentation.

"This is the year of Galaxy 5G, and it begins right here with the Galaxy S 20."

Additional reporting by AFP.