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Samsung to announce an affordable foldable smartphone

New TrendForce report says we will see Samsung release a new foldable in 2024 but surprisingly this model will sit in the mid-range market.

Affordable Samsung phone - Sydney Sweeney viewing a photo she took with the new Galaxy Z Flip 5

2024 may see Samsung release a new foldable smartphone into the mid-range market, where devices sit at a more affordable price point of around of between $370/£300 and $800/£650. This is according to a telling new report from market intelligence firm, TrendForce, which asks if foldable phones can become a lifeline for the declining global smartphone market.

“Supply chain sources have also revealed that Samsung is planning to bring foldable phones to the mid-range market next year, further reducing price barriers and making foldable phones more accessible to a broader range of consumers,” reads the report.

Indeed, Samsung would certainly shake-up the mid-range market by releasing a new, affordable smartphone. The report doesn’t mention what quarter we can expect the new foldable or whether it’ll be a clamshell or book-fold style. However, we would expect the new foldable to be a clamshell as these are generally the cheaper type of flip phones.

This information tallies up with the information tweeted by leaker @Tech_Reve back in August. “The S23 FE is set to be released soon, and there are possibilities that Samsung plans to consistently introduce the FE brand annually. Simultaneously, there are rumors of ongoing testing for the launch of the Galaxy Z FE(lite model), after the Fold/Flip 6.”

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The TrendForce report also says that Huawei is also expected to introduce more competitively priced foldable phones and other manufacturers are expected to follow suit. It certainly looks like foldables will be the ones to watch in 2024.