Samsung could launch a cheaper Galaxy Fold with 256GB storage

Samsung Galaxy Fold is priced almost $2,000 and packs 512GB of built-in storage.

An attendee holds a Samsung Electronics Co. Galaxy Fold mobile device during an unveiling event in New York, U.S., on Monday, April 15, 2019. Samsung announced the phone in February and it goes on sale April 26 at the wallet-stretching price of $1,980. (Bloomberg)

As South Korean tech giant Samsung is all set to roll-out its much-awaited foldable smartphone 'Galaxy Fold' on September 6, a new report now suggests that a cheaper Galaxy Fold device for $1,000 is in the works.

The current Galaxy Fold handset is priced at nearly $2000 which is not an amount most people are willing to pay and is not accessible to a larger segment of the population.

The company is planning to use a cheaper design for bringing down its price with just 256GB of internal storage, half of what the current Galaxy Fold offers at 512GB, SamMobile reported on Friday.

In terms of specifications, the current device features a 7.3-inch primary flexible AMOLED display and a secondary 4.6-inch screen. The premium smartphone comes backed by a 7nm Qualcomm Snapdragon 855 octa-core SoC, paired with 12GB of RAM and 512GB storage.

On the rear, it packs a 16-megapixel + 12-megapixel + 12-megapixel triple rear camera set-up. The device also sports a 10-megapixel camera on the front for selfies.