Samsung has denied recent rumors that it is working on a mid-range, inexpensive foldable smartphone. As reported via Korea JoongAng Daily, a company spokesperson said that reports of a foldable phone priced under $500 are “unfounded” and that Samsung has no plans to produce a foldable product in the mid-range segment.
Previous reports reported by market analysts such as TrendForce and other leaksters have stated that Samsung may offer future foldable devices at a price as low as $400 – $500 to increase their appeal. However, the spokesperson said that such speculations are not true: “We do not plan to produce foldable smartphones in the mid-price range and the latest rumors are unfounded. “There is no decision made on this issue.”
Sources in Samsung’s supply chain had announced plans to bring foldable devices to the more affordable middle-class market by 2024. This had raised hopes that the manufacturer would release a fan edition or drop features to aggressively hit lower price points.
The company’s foldables currently sit just below the top-end Galaxy S series in the premium lineup. As foldable display technology continues to evolve and competitors like Google and Huawei begin offering their own models, consumers have begun to demand more affordable options. But unfortunately, Samsung clearly signals that there will be no significant price reductions on its high-end foldable devices anytime soon.
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