Samsung Electronics Co Ltd and LG Electronics Inc unveiled their latest smartphones at the Mobile World Congress industry show in Barcelona on Sunday, seeking to buck the slowdown in industry growth.

Phone makers face another tough year in 2016 as subdued global growth and persisting currency weakness in key emerging markets sap consumers' spending power. A push by Chinese manufacturers to expand overseas amid slowing growth in their domestic market may also undercut margins further.

LG, which lost money from its mobile business last year as its flagship products struggled, introduced a modular design to its new G5 smartphones that allows users to replace or upgrade functions such as camera and audio independently.

It also launched a virtual reality headset and accessories including a drone controller to pair with the G5.

Ford CEO Mark Fields says the 112-year-old company is tripling its investment in new technologies that will ultimately lead to self-driving vehicles. Fields said it was no coincidence that Ford chose the Mobile World Congress to unveil its new Kuga SUV.

He claimed that ‘The Kuga’ includes the latest version of Ford's connectivity technology, SYNC 3, which the company says includes improved voice commands and makes it easier to access applications on a driver's smartphone. It has a new 1.5-liter diesel engine, among other features.