Samsung’s foldable smartphone follow-up to the Galaxy Fold may cost around $1,000, according to a report from South Korea, making it half the price of the current model, and even less still than the $1,500 Motorola Moto Razr. The new model, which does not seem to have a name yet, has been rumored for release alongside the next Galaxy S phone, expected around February 2020.
The news comes from the Korea Herald, a publication with an average reputation for rumor coverage, but it’s fairly certain Samsung will want to capitalize on its initial dominance of the international market for foldable phones with more choices next year. The report states the next Samsung foldable will have a clamshell design, meaning it may be more like the Moto Razr than the Galaxy Fold.
Samsung is apparently targeting a local price in South Korea of 1 million won, which converts over to around $840, but this is not always translated directly over outside the country. Less than $1,000 is possible if Samsung hits its target, though, and considering the Galaxy Fold costs almost $2,000 and Samsung’s S and Note phones hover around $1,000, it will make the next folding phone considerably more accessible to a greater number of people.
According to an analyst quoted in the piece, Samsung is closely watching the reaction to the Galaxy Fold, which may end up affecting the launch schedules for new models over the coming year. Apparently, it wants to sell six million folding smartphones in 2020, and a massive 20 million by the end of 2021. These are ambitious numbers considering it’s estimated to have sold only 500,000 Galaxy Fold phones at the moment. Cheaper devices will help it achieve these goals.
Apart from the projected announcement date and price, nothing else is known about the next Samsung foldable phone. If it does take on a clamshell design, it will be very different from the Galaxy Fold, and to meet the much lower price the phone may not meet flagship-device specification standards, much like the Moto Razr. Reducing the specification to drop the price means the device will remain one purchased only by those with the disposable income to justify spending out on a midrange phone with a cutting-edge design.