[Rumors] Samsung is planning to bring foldable phones to the mid-range market by 2024

The first well-known smartphone manufacturer to release a foldable phone was Samsung, but its products have always come at a premium cost. It appears that the corporation may finally provide more affordable gadgets in 2024.

According to supply chain insiders cited by research firm TrendForce, Samsung intends to introduce mid-range foldable phones in 2024.

Samsung is planning to bring foldable phones to the mid-range market by 2024 details

Although it may sound prejudiced, there are statistics that support the notion that there hasn’t been much innovation in the worldwide smartphone market during the last two to three years. For the last nine quarters, mobile phone shipments have been steadily declining, with one exception: foldable phones.

The foldable market is where Android smartphone manufacturers are continuously concentrating their efforts. The OnePlus Open, Z Fold 5, Z Flip 5, Moto Razr, and thirteen other foldables have been released in just the last three months, setting a new record. It’s also possible that an iPad folds within the next two to three years, according to supply chain sources.

Samsung hopes to lower costs even more and increase the number of people who can afford foldable phones by releasing a mid-range model. This year, a new record low price of 3,659 yuan (~ $500) has already been reached for foldable phones.

Some insiders within the supply chain claim that Samsung, the company that invented foldable cellphones, has its sights set on the $400–$500 mid-range foldable niche. Although there had been some rumors that the Z Fold FE and Z Fold 6 would be unveiled together next year, those have since died down and no mention of a foldable that would cost less than $500 was made.

However, this isn’t the first time we’ve heard rumors of a mid-range Galaxy foldable. In 2020, there were reports that a Galaxy Fold FE model will be released, however that seems to have never happened. Therefore, you might not want to wait around for mid-range Galaxy foldables in 2024. However, if Samsung hopes to keep its market share in the category, this appears to be the right course of action.