What you need to know
- The latest Samsung Galaxy Z Fold 6 starts at $1,899, and the region-limited Galaxy Z Fold Special Edition is even more expensive.
- However, Samsung recently confirmed that it has no plans to sell a cheaper foldable phone.
- Samsung’s lack of interest in the budget foldable market could limit the Galaxy Z Fold’s growth and open the door for competitors.
Samsung managed to become the first to mass produce a mainstream folding phone, and eventually brought down the price of the big-screen Galaxy Z Fold series to as low as $1,799. Lately, things haven’t been moving in that direction. The latest Samsung Galaxy Z Fold 6 debuted with a sticker price of $1,899, a $100 increase over the Galaxy Z Fold 5. And the Korea-exclusive Galaxy Z Fold Special Edition costs even more.
Setting aside the cheaper flip-style phones from Motorola and Samsung, folding phones are still extremely expensive in 2024. That may be by design, according to Samsung. An official from the company recently told SisaJournal that it still has no plans to offer a cheaper Galaxy Z Fold. Instead, new developments are intended to give buyers willing to pay a premium ways to spend more for unique hardware.
"You can think of it as a product released in terms of expanding options rather than a premium product. You can choose according to your taste," the Samsung official told SisaJournal, translated to English. "Currently, we are not planning to launch a separate product with a lowered price."
Based on the company’s public statements and recent product releases, it’s safe to say that we won’t be seeing an affordable folding phone from Samsung anytime soon. It just revealed the Galaxy Z Fold Special Edition, which exists only in Korea “as a gesture to domestic consumers leading the foldable market,” according to a press release (translated). That device costs 2,789,600 won, and that’s equivalent to just over $2,000 U.S. dollars.
Considering that the latest Samsung Galaxy, Google Pixel, and iPhone flagship models start at just $800, folding phones become a tough sell. Buyers are asked to pay more than double the price of a traditional phone for one that’s less durable and has a worse camera system. It’s possible that the combination of stalling foldable innovation and rising prices are discouraging buyers from giving folding phones a try.
The new Samsung Galaxy Z Fold 6 wasn’t a resounding success, according to leaker Ice Universe on X (formerly Twitter) . It reportedly sold less than 300,000 units in its first two weeks of availability, underperforming expectations and representing fewer units than the Galaxy Z Fold 6 moved a year prior. Are potential buyers balking at the Galaxy Z Fold 6’s high price, despite Samsung’s bullish opposition to a cheaper foldable?
It’s impossible to know, but it feels like Samsung has reached the peak amount of buyers that want to spend nearly $2,000 on a folding phone. It told 9to5Google this summer that “most” new Galaxy Z Flip and Fold purchasers are upgrading from a prior foldable. It’s great that Samsung is managing to keep foldable users wanting the form factor, but what the company really needs is to get people who have never tried a foldable onboard.
At their current prices, it seems unlikely that the Samsung foldables are capable of doing that. A cheaper folding phone would entice more people to consider upgrading to one. The Galaxy S24 Ultra costs $1,300, the iPhone 16 Pro Max costs $1,200, and the Pixel 9 Pro XL costs $1,000. Smartphone users have already proven that they’re willing to pay a premium for new devices. However, it would seem that the current prices are simply too high, and a foldable phone in the $1,000 to $1,500 range could be successful.
Other companies are already attacking this market segment
When Samsung was the only one making foldable phones, it was able to get away with charging a premium price for them. Now, we’re seeing truly affordable devices enter the fold. If you like flip-style phones, last year’s Motorola Razr (2023) has reached prices as low as around $300 at times. The more expensive (but still last-gen) Motorola Razr Plus (2023) is still affordable at roughly $500.
For those that want a true book-style foldable, there’s the Tecno Phantom V Fold 2, which gives you a full-fledged folding phone for $1,100. That’s the same price as the Pixel 9 Pro XL and less than the Galaxy S24 Ultra and iPhone 16 Pro Max.
The OnePlus Open is still a cheaper alternative to a Galaxy foldable, too. It retails for $1,700, but you can get $100 off by trading in any phone in any condition. When you factor in deals and discounts, it’s possible to get the OnePlus Open for under $1,500. You might even get a bonus — when you buy a OnePlus Open from the official OnePlus store right now, you’ll get a OnePlus Pad for free.
All this is to say that Samsung isn’t alone anymore, and the next stage of the foldable race might hinge upon securing the affordable market. The company already had to apologize for failing to innovate, and rising prices when innovation is stalling rarely goes well. It should make Samsung foldables truly premium devices again, or give consumers what they want — a cheaper option.
