Samsung Electronics Co. on Monday confirmed that new models of its flagship smartphone lineup will be unveiled next week as the South Korean tech giant tries to fend off challenges from Apple Inc. and Chinese brands.

Samsung's Galaxy S21 smartphone series will be introduced at the Galaxy Unpacked online event at 10 a.m. Eastern Standard Time on Jan. 14 under the theme of "Welcome to the Everyday Epic."

"Over the past year, mobile technology has taken center stage in everyday life as people are working remotely and spending more time at home," Samsung said in its invitation to the event. "The accelerated transition to a mobile-first world brings with it the need for devices that can transform everyday life into an extraordinary experience."

Samsung, the world's largest smartphone vendor, has been holding the event every February to unveil its new smartphones for the first half of the year, but the company decided to introduce them early this time to better cope with challenging market situations.

Samsung has yet to confirm any specifications on its Galaxy S21 family, but industry sources said it will come with three models -- the S21 with a 6.2-inch display, S21 Plus with a 6.7-inch screen and S21 Ultra with a 6.8-inch panel.

The high-end S1 Ultra is reportedly to support the S-Pen stylus that has been used for the Galaxy Note phablets.

The teaser video for the unpacked Galaxy Unpacked event showed that the Galaxy S21 series will have an enhanced rear camera module design and come with a phantom violet color option.

Sources said Samsung may launch the Galaxy S21 devices on Jan. 29.

According to market researcher Strategy Analytics, Samsung had a market share of 19.5 percent in terms of smartphone shipments last year, which is the first time since 2011 that its market share dropped below 20 percent.

Apple took the runner-up spot with 15.5 percent share in 2020 on the back of its iPhone 12 series, while China's Huawei Technologies Co. fell to the third spot with a 14.4 percent share.

For 2021, Strategy Analytics predicted Samsung's market share to drop to 18.8 percent, while that of Apple is expected to increase to 16.4 percent. (Yonhap)