According to new reports, Samsung has two new foldable smartphones in development that are aimed at a cheaper market.
According to an ETNews report, the South Korean tech giant is looking to increase the market share of foldable smartphones with devices that sport attractive price tags and sacrifice a few high end features.
The report also says that the Samsung Electronic’s Mobile Experience division has begun product planning and development on Galaxy Z Fold and Flip phones with lower specs and price, which will see a likely release in 2024.
Samsung’s goal is to create foldable versions of the Galaxy A smartphone range, which ETNews say will set prices at less than 1 million won (roughly $1,117.69). For context, the Galaxy Z Fold and flip phones cost between 1.25 and 2 million won (The Flip3 5G costs $1,599 on the Samsung website whilst the Fold3 is usually $2,499).
Samsung has 90% market share of the foldable phone market, and the Galaxy A series sells the most units, so the decision makes sense. On top of this, foldable smartphone shipments are increasing, and popularity is growing.
Official announcements are yet to be made.
