Foldable phones are the next big thing in the smartphone industry, but they are also very expensive. However, that could change soon as Samsung and Huawei are planning to introduce more competitively priced foldable phones next year, according to research firm TrendForce.
TrendForce said that foldable phone shipments are expected to grow 38% in 2024, which translates to 25.2 million units for a 2.2% market share. The growth is attributed to the surge in popularity. This year alone, there were 13 new foldable phones released in just three months.
Moreover, Samsung’s mid-range foldable could be cheaper than anticipated. According to leaker @ravegnus on X, Samsung is aiming for a $400 to $500 price range for a mid-range Galaxy foldable phone. This would be a significant drop from the current Galaxy Z Fold 5 and Galaxy Z Flip 5, which start at $1,799 and $999 in the US, respectively.
Huawei is also expected to launch a cheaper foldable phone next year. Huawei’s current foldable phone, the Mate X2, costs around $2,800 and is only available in China. Further, reports also suggest the Chinese company is developing a triple-foldable phone.
Other Android manufacturers are also expected to follow suit and launch their foldable phones.
The first affordable foldable phone in the market is the Tecno Phantom V Flip 5G. The phone features a 6.9-inch OLED display, a 1.32-inch cover display, a 64MP dual camera, a 32MP selfie camera, a MediaTek Dimensity 8050 processor, 8GB of RAM, 256GB of storage, and a 4,000mAh battery. The phone is priced at ₱29,999, which is equivalent to around $540.
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