Samsung Plans to Launch Affordable Foldable Phone in 2024
Samsung's Strategy for Galaxy Z Fold 6
Samsung is gearing up to introduce
a relatively affordable version of its upcoming foldable phone, the Galaxy Z Fold
6, according to recent reports from the Korean tech site, The Elec. The company
aims to unveil this variant later in 2024 to strengthen its presence in the
foldable smartphone market, especially with the continuous release of similar
phones by Chinese competitors.
Samsung's Position in the Foldable Smartphone Market
While globally leading in sales of
foldable smartphones, Samsung holds the third position in the foldable
smartphone market in China. It faces fierce competition from local tech
companies such as Huawei, Honor, and Xiaomi, which offer foldable phones at
competitive prices compared to Samsung's products.
Previous reports at the end of
last year suggested that Samsung was working on developing amid-spec foldable
smartphone at a lower price. Although Samsung initially denied these reports,
it seems they haven't entirely abandoned the idea of providing such products at
prices that appeal to a wider consumer base.
Industry Shift Towards Affordable Foldable Phones
Major players in the foldable
phone manufacturing industry, including Samsung, Honor, and Huawei, are
expected to offer lower-priced versions starting from 2024. The current average
starting price for foldable smartphones is around a thousand US dollars, with
Samsung's Galaxy Z Fold 5 priced at a starting point of 1800 US dollars.
The Korean company is anticipated
to announce the new versions of its foldable phones in mid-2024, making them
available in the market during the second half of the year.
Q&A Section
Q1: What is Samsung's market position in the foldable smartphone industry?
A1: Globally, Samsung leads in
foldable smartphone sales. However, in China, it ranks third behind local
competitors such as Huawei and Xiaomi.
Q2: What was the previous report about Samsung's foldable phone development?
A2: Previous reports at the end of
the last year suggested that Samsung was working on a mid-spec foldable
smartphone with a lower price, although Samsung initially denied these reports.
Q3: When is Samsung expected to release its new foldable phone versions?
A3: Samsung is anticipated to announce the new versions of its foldable phones in mid-2024, with availability in the market during the second half of the year.
