Samsung to launch a mid-range foldable phone in 2024 with a price tag of $400-$500

Samsung has exciting plans in store for the mid-range market next year. According to a recent report by TrendForce, the company aims to make foldable phones more accessible by reducing price barriers. This move is expected to attract a wider range of consumers who have been eager to try out this innovative technology.

While the report doesn’t provide specific details about the upcoming mid-range foldable phone’s model or design, there is speculation that it could be a more affordable version of the popular Galaxy Z Flip series. The Galaxy Z Flip 5, which was launched this year, starts at $999.99 / £1,049 / AU$1,649.

Interestingly, a Twitter user named Revegnus claims that Samsung has set a price target of $400 to $500 for its mid-range foldable phone. If this turns out to be true, it would make Samsung’s offering one of the most affordable foldable phones on the market. This competitive pricing strategy could potentially attract a significant number of buyers who are curious about this new form factor.

Samsung currently holds a dominant position in the foldable phone segment, with a 75% market share in the first half of 2023, as reported by TrendForce. The company has been heavily investing in the development and production of foldable displays and has already launched several successful models like the Galaxy Z Fold series and the Galaxy Z Flip series.

As more manufacturers enter the foldable phone market, the popularity of these devices is expected to soar in the coming years. With a projected increase in competition, TrendForce predicts that global foldable phone shipments will reach 18 million units in 2023, doubling from the 9 million units shipped in 2022.

Samsung’s mid-range foldable phone has the potential to be a game-changer for the industry. By lowering the entry barrier, it could significantly increase the adoption rate of foldable phones. However, the challenge lies in finding the right balance between cost and quality, as well as delivering a satisfying user experience. Only time will tell how Samsung tackles these hurdles and shapes the future of foldable phones.

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