While the 7.6-inch Galaxy Z Fold3 will be available globally for $1,799.99, the 6.9-inch Galaxy Z Flip3 will cost $999.99.
The Sri Lanka pricing of the devices will be revealed at a later date.
"With Galaxy Z Fold3 and Z Flip3, Samsung is once again redefining the possibilities with foldable smartphones that empower users with the flexibility and versatility needed for today's fast-paced world," said Dr TM Roh, President and Head of Mobile Communications Business, Samsung Electronics.
According to a latest Counterpoint Research report, Samsung Electronics is expected to dominate the foldable smartphone market this year with an 88 percent share, as the global foldable market is estimated to triple from a year earlier to reach around 9 million units in 2021.
Available in two variants -- 12GB RAM with 512GB internal storage and 12GB RAM with 256GB internal storage -- Z Fold3 offers an undisrupted 7.6-inch Infinity Flex Display and the first-ever S (Stylus) Pen support on a foldable device.
The S Pen will have to be purchased separately.
The rear camera system has three sensors of 12MP each.
There is a 10MP selfie camera and there is a 4MP under-display camera too at the front on Z Fold3.
For the first time ever on a foldable smartphone, Z Fold3 and Z Flip3 are equipped with IPX84 water resistance, so users no longer have to worry when caught in the rain.
The device -- available in Phantom Black, Phantom Green, Phantom Silver colours -- runs Android 11 with one eSIM and 2 Nano SIM slots and houses a 4,400mAh (typical) dual battery with fast-charging capabilities.
Both devices are also built with new 'armor aluminum' - the strongest aluminum ever used on a Galaxy smartphone - along with the toughest Corning Gorilla Glass Victus to protect against scratches, the company said.
Galaxy Z Flip3 5G has a 10MP Selfie Camera and sports a dual real camera system (12MP each).
The device will be available in 8GB RAM with 256GB internal storage and 8GB RAM with 128GB internal storage variants.
"Z Flip3 is the ideal device with its sleek, compact, and pocketable design, enhanced camera features, and a larger Cover Screen built for quick use on the go," Samsung said.
Running Android 11, it has a 3,300mAh (typical) dual battery with fast-charging capabilities.
"Scrolling and sharing are super smooth, thanks to Z Flip3's new 120Hz adaptive refresh rate," the company said.
Joining the Galaxy Z Series are Galaxy Buds2 – designed for a comfortable fit made to be worn all day, and provide premium sound quality to immerse in the moment, wherever you are.
As one of the latest additions to the Galaxy Buds lineup, Galaxy Buds2 join the Galaxy Buds Live and Galaxy Buds Pro, providing more choices to consumers to fit their needs.
As a part of the Galaxy ecosystem, Galaxy Buds2 make the perfect companion to your Galaxy smartphone, tablet, or smartwatch.
Galaxy Bud2 will retail for $149.99, allowing more consumers to experience an immersive sound, with a comfortable all-day design, seamless connectivity and powerful features.