Samsung seems to be preparing for an "entry-level" version of the Galaxy Z Fold 6 set to debut later this year, according to The Elec.
Reports suggest that the successor to the $1,800 Galaxy Z Fold 5 will have an affordable version alongside the regular price to "increase the penetration rate of the foldable phone market."
The rumored device is set to be Samsung's first affordable foldable phone as competitors like Xiaomi, Honor, and Huawei continue to release their own foldables at a much lower price.
Xiaomi and Huawei, in particular, have recently increased sales of foldable phones in China, Samsung's biggest market.
Also Read: Apple Tops Samsung as World's No. 1 Phone Manufacturer in 2023
Samsung Takes Different Approach to Pierce a More Competitive Market
The latest development on Samsung's sales strategy follows after Apple beat the South Korean brand as the top phone maker for the first time in a decade.
Samsung currently sits in second place for last year's financial report due to the sales decline it has been experiencing for the past couple of years.
A more affordable foldable phone is sure to attract more customers outside of the dwindling Samsung loyalists.
The South Korean phone manufacturer has previously been reported as making more affordable foldable devices.
Most recent were reports of a "mid-range" foldable phone being developed last November, according to 9to5Google. Samsung later shut down the project.
However, the intention to make one of its flagship innovations more affordable was not shelved away.
Samsung Galaxy Z Fold 6: What We Know So Far
While it is still months away before Samsung unveils the Galaxy Z Fold 6, several details of the upcoming phone has already been leaked to the public.
Most notable are the disappointing reviews of the phone's camera as it might be the same as its predecessors. The storage capacity will be the same, as well.
No details for its RAM and processor have been confirmed yet.
Its design, however, is rumored to be much slimmer and lighter as Samsung aims to make the foldable phone easily accessible even by just one hand.
The devices are expected to come out sometime in August this year. The foldable phone's price is anticipated to start at $1,799.
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