The Roman tradition regarding the founding of Carthage is more well-known than that of the Greeks. The Aeneid relates the city's foundation by a Tyrian princess named Dido, who was fleeing from Pygmalion, her brother, a historical king of Tyre. The Romans called the Phoenicians Poeni, derived from the word Phoenikes (Phoenicians). The adjective Punic derives from this word. The founding date of Carthage was most likely exaggerated by the Carthaginians as no archaelogical finds date earlier than the last quarter of the 8th century B.C.

Nothing remains of the city's domestic or public buildings. Some very early tombs have been found at the location of the Byrsa. Though Punic interests were turned toward commerce, it is most likely that their standard of living was below that of the classical world's larger cities. Punic cushions, mattresses and beds were regarded as luxuries in Roman times. Also, Punic joinery and furniture were copied. The exploitation of silver mines in North Africa and southern Spain were the source of much of Carthage's revenue.

Carthage came to be involved in a series of wars with Rome known as the Punic Wars. These dated from the middle of the 3rd century to the middle of the 2nd century. Rome overwhelmed Carthage completely and the city fell in 146 B.C. The entire site was plundered and burned. No human habitation was allowed there at all. So ended the New Town of the Phoenicians.