Recently, a new leak from @Tech_Reve shared a link to a TrendForce article revealing that Samsung and Huawei are expected to launch competitively priced foldable smartphones next year. This new information aligns with previous posts suggesting that Samsung would bring a reasonably priced foldable phone to the market in 2024.

With the foldable phone category showing growth while other markets decline, the introduction of cheaper bendable handsets could be just what the industry needs to revive itself. According to reports, Samsung is moving at a breakneck pace to keep up with the competition and reach its target of selling 20 million foldable phones in 2024.

Based on the leaks, Samsung may be planning to unveil a new mid-tier foldable phone, potentially called the Galaxy Z FE, after its flagship foldable phones. It’s rumored that the price range for this new device will be between $400 to $500, making it substantially more affordable than the existing Flip 5 and Fold 5 models, which start at $999.99 and $1,799.99, respectively.

While it’s not certain what the design of the new device will be, its expected price range suggests that it could be a clamshell phone. It’s likely that Samsung will position it as a competitor to the Razr 2023, which is currently the cheapest foldable phone on the market at $699.

Although specifics about the phone’s features are not yet available, being a Fan Edition model, it will likely be a scaled-down version of Samsung’s other foldable phones, while still offering decent specs.

This leaked information contradicts previous hints from a Samsung executive suggesting that a mid-range foldable phone was a long way off. This indicates that the company’s plans for more affordable options may be expedited.