Samsung’s foldable phones may cost as little as KRW 1M by 2024

Samsung’s foldable phones may cost as little as KRW 1M by 2024

Samsung’s foldable phones may cost as little as KRW 1M by 2024

Samsung’s foldable phones may cost as little as KRW 1M by 2024. (Credits: Google)

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  • Samsung may begin producing entry-level foldable smartphones by 2024.
  • The foldable smartphone pricing may start at KRW 1 million (about Rs. 157,718).
  • South Korean corporation plans to develop a foldable smartphone as part of the “Galaxy A” line.
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According to a source, Samsung may begin producing entry-level foldable smartphones by 2024, with costs starting at KRW 1 million (about Rs. 157,718).

These entry-level foldable cellphones are rumored to just have “basic functionality” while the more expensive models are reported to include “advanced features.”

Read More: Samsung is set to reveal foldable phones just before the Mobile World Congress (MWC)

The Samsung Galaxy Z Flip 3, one of the most recent foldable smartphones from the South Korean manufacturer, was released for a starting price of Rs. 199,999 for the base model.

According to a claim in a Korean publication, Samsung Electronics’ Mobile Experience (MX) division has begun work on a low-end, reasonably priced foldable smartphone in addition to the Galaxy Z Fold and Galaxy Z Flip.

According to reports, the South Korean corporation plans to develop a foldable smartphone as part of the “Galaxy A” line of mobile devices.

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This is not the first time a report regarding the foldable Galaxy A series phone has surfaced.

According to a story from earlier this year, Samsung may be developing a new, reasonably priced foldable device might join the company’s Galaxy A series lineup by 2025.

Read More: Samsung unveils new foldable smartphones with lower prices

However, the most recent information indicates that this cost-effective phone may go on sale by 2024, enabling the corporation to further strengthen its already enviable position as the market leader for foldable smartphones.

Even if its share decreased from around 90% in Q3 2021 to 74% in Q1 2022, the South Korean corporation is claimed to have seized the majority in the first quarter of 2022.

The enormous rise in the foldable smartphone market may be another factor for Samsung to apparently pre-announce the inexpensive foldable phone.

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The market for foldable phones rose by more than 264 percent between 2020 and 2021, according to a report from IDC earlier this year, and is expected to reach 27.6 million units by 2025, with a compound annual growth rate (CAGR) of 69.9 percent from 2020 to 2025.

Read More: Samsung Galaxy Z Fold4 crease pictured for first time

This was further evidenced by the fact that 2.22 million foldable smartphone shipments, or a whooping 571 percent year over year growth, were made in the first quarter of 2022.

Furthermore, Chinese rivals Oppo, Vivo, Xiaomi, Motorola, and Huawei are already posing a threat to Samsung in the foldable smartphone market.

Other major players, like as Apple and Google, who are rumored to be working on expensive foldable smartphones, are likely to challenge it.

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