Samsung Plans to Bring Affordable and Cheaper Foldables by 2024—What to Expect?

Isaiah Richard, Tech Times 09 November 2023, 09:11 pm

One of the leading companies in delivering foldable phones, Samsung, is reportedly planning to develop a new device that would be more affordable and cheaper compared to what it offers in its lineup. Currently, the mainline of its foldable center is on the Galaxy Z Flip and Z Fold series, but both come at the more premium spectrum of smartphone pricing in their releases.

Apart from this, Samsung is also met with massive competition in the market, and with the saturation from various companies, it is bound to see more challenges to sell.

Samsung Plans to Bring Affordable, Cheaper Foldables by 2024

(Photo : JOSEP LAGO/AFP via Getty Images)

TrendForce released a report regarding the upcoming development of a more affordable and cheaper folding smartphone from Samsung coming by 2024. This was reportedly Samsung's answer to the growing foldable smartphone business in the world, especially as in the last three months, there were 13 new additions to the foldable phone industry from various companies.

As noted by TrendForce, the "price barrier" of foldable smartphones has been one of the key aspects of it being patronized by users.

Moreover, it was said that this smartphone will be a mid-range foldable from Samsung, and as noted by Android Central, this may arrive by 2024 if the report is accurate.

Samsung's Foldable Faces Massive Competition

At present, there are massive releases from other companies that are also making their names in the industry, with Google's Pixel Fold, OnePlus Open, Xiaomi's Mi Mix Fold, Oppo Find N series, Motorola's Razr, and more.

While they are also considered to be premium takes on the foldable, they have differing prices of either cheaper or more expensive than Samsung's, with more expected to arrive in the future.

Foldable Smartphones Now

Companies that develop Android phones are presenting their takes on foldable smartphones, and it has already seen massive growth this year, centering on expanding screens and the latest technology there is. Among those who recently introduced their take includes OnePlus Open, a device that was announced and made available this second half of 2023.

Apart from current releases, there are also plans to develop new features and tech for these folding smartphones, soon available in the market for the world. There is Xiaomi, a renowned Chinese tech brand, which recently secured its patent for a unique foldable technology, and in this case, the smartphone folds to the rear, opposing the traditional front-folding design.

Samsung is among the earliest to deliver foldable smartphones to the world, and it has improved what it has to offer on various occasions already, now leading to its Galaxy Z Flip5 and the Z Fold5. However, these are not the only foldable phones that Samsung is looking to bring to the public as it aims to expand more of its lineup, particularly with more affordable versions, with one coming by 2024.