Samsung apparently has no interest in launching an affordable foldable in 2024

What you need to know

• Rumors of a mid-range Samsung foldable phone have been denied by the company.
• Motorola recently released the Motorola Razr (2023), a mid-range offering that's hundreds less than the Galaxy Z Flip 5.
• Samsung could eventually release a Galaxy Z Flip FE to compete with the Razr, according to rumors.

If you were hoping for a cheap Galaxy Z Flip phone in 2024, it looks like you'll have to wait a bit longer. The company denied recent rumors that it would be bringing a Galaxy Z Flip under $500 to market next year in an effort to help prop up slumping smartphone sales.

A Samsung spokesperson told Korea JoongAng Daily (via SamMobile) that a Galaxy Z Flip under $500 would not debut in 2024. Right now, the best foldable phones from Samsung start at $999 and cost as much as $1800, which is far from affordable.

But it looks like not all hope is lost, as it's also rumored that Samsung could eventually launch a Galaxy Z Flip FE, with the spokesperson saying, "There's nothing decided on the matter."

Samsung's "Fan Edition" phones have debuted in the past several years, often delivering flagship features with some hardware concessions for a reduced price. The Galaxy S23 FE is the latest such rendition, debuting at $600. For comparison, the cheapest Galaxy S23 model retails for $800.

If it follows that pricing scheme, the Galaxy Z Flip FE would potentially cost the same as the Motorola Razr (2023), coming in at $200 less than the same Galaxy Z Flip model for that year.

Motorola was able to cut costs by including a lower-power processor, a smaller outer display, and a different build that sacrifices water resistance. If Samsung follows suit, it could include the newer flat-folding hinge from the Galaxy Z Flip 5 with either a Snapdragon 7 series chipset or one from a previous year, as it did with the S23 FE.