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Samsung official denies rumor about mid-range foldable phone

According to Samsung, the $500 foldable phone rumor is false.

Samsung logo on purple background
Samsung logo

Samsung Electronics has shot down the recent rumor about a mid-range foldable smartphone for 2024. 

Only last week, we came across a rumor suggesting that Samsung is likely working on a mid-range foldable phone, which could land as early as 2024, and a follow-up leak even suggested the smartphone could cost as low as $400 to $500.

While foldable smartphones are getting better and more mainstream, they are still quite expensive, especially the book-style ones. So, the idea of a mid-range foldable (likely clamshell) foldable smartphone under $500 was lucrative. 

However, days after, a Samsung spokesperson shot down the rumor in an interview with a Korean publication, Korea JoongAng Daily

Samsung spokesperson says ‘nothing decided’ about Galaxy Z FE phones

In the interview, the spokesperson said, “We don’t plan to manufacture foldable smartphones that are priced in the midrange,” the spokesperson said. They also added that the recent rumors are “groundless.”

This is an unfortunate and sudden turn of events, so we will likely not see a cheap foldable smartphone from the Korean tech giant.

Currently, Samsung’s clamshell-type foldable smartphones are the cheapest, and the latest iteration, the Galaxy Z Flip 5, starts at $1,000, which is way out of the mid-range league. 

In addition to disavowing mid-range foldables, the spokesperson also touched on the idea of an “FE” model in the Galaxy Z line. 

The idea behind the FE, formerly known as “Fan Edition” devices, is pretty simple. Take the flagship device and strip it of some features and hardware to bring down the cost. The most recent example is the Galaxy S23 FE

Unfortunately, the spokesperson said, “There’s nothing decided on the matter.”

In other words, the Samsung foldables will continue to be expensive throughout the coming years, and they will likely get cheaper over time, but nothing is imminent. 

On the other hand, if you want a cheaper foldable smartphone, opt for the clamshell-type Galaxy Z Fold 5 or, best, the Motorola Razr (2023), which costs only $699. 

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Saurav loves writing and tech. So, after engineering, he didn't look back and embarked on a journey to become a tech writer. Saurav has worked for various tech websites across the globe. Saurav has recently joined Know Techie and is proud to be a part of it.

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