Forget Galaxy Z Fold 4! A cheap Samsung foldable phone likely on way

Samsung is expected to launch the premium Galaxy Z Fold 4 and Flip 4 later this year, but this report suggests there is a foldable smartphone that is affordable.

Samsung is tipped to expand its foldable smartphone segment while dropping prices by 2024. (Amritanshu / HT Tech)

The next foldable smartphone by Samsung - the Galaxy Z Fold 4 - is expected to be released along with the Galaxy Z Flip 4 later this year. The rumour mill is already in works which suggests that the Z Fold 4 will be a high-end premium foldable Samsung smartphone just like its previous avatar. Samsung's Galaxy Z Flip 3 is currently one of the cheapest foldable phones available priced at Rs. 84,999.

But the good news is that, Samsung is likely stepping into the affordable segment for foldable smartphones. At least, this is what the latest report has hinted at! The report comes from Korea's ETNews which claims Samsung will be bringing an entry-level foldable smartphone under $770 (around Rs. 60,000) by 2024. Samsung wants to speed up the popularization of foldable phones by making them more affordable for the wider reach by simply excluding some premium features available on the Fold and Flip models.

"Samsung Electronics' Mobile Experience (MX) division has recently begun a product planning and development project for the launch of the lower-end Galaxy Z Fold and Flip foldable smartphones, '' a Korean IT News report mentioned. Currently, Samsung has a wide range of users while offering the premium smartphone series such as Samsung Galaxy S22 on one hand and on the other, it caters to the mid-range and budget buyers with its A-series and F-series smartphones.

Samsung's strategy is now to create a foldable smartphone version of the 'Galaxy A' with the entry-level foldable smartphone lineup, the report suggests. Samsung is aiming to rapidly increase its market share of foldable phones with better price competitiveness. Samsung's budget and mid-range smartphones play a significant role in Samsung's smartphone expansion as the lower priced smartphones have the tendency to accelerate the sales. With the same strategy, Samsung is planning to expand its foldable smartphone segment too from 10 million to 15 million units.