Samsung has denied rumors that it will release a mid-tier foldable phone. “We don’t plan to manufacture foldable smartphones that are priced in the midrange, and the latest rumors are groundless,” said a Samsung Electronics spokesperson. According to Korea JoongAng Daily, there’s still a little glimmer of hope for a Fan Edition model though with Samsung saying that “there’s nothing decided on the matter.” However, a Samsung exec had recently hinted that the company had no plans to release an affordable phone in the foreseeable future. Whether that’s the right decision is another story. Chinese company Tecno has already released a $600 flip phone in some markets. Huawei might release an affordable foldable phone next year. Samsung probably wants to continue positioning foldable phones as premium devices but this strategy is unlikely to help it meet its goal of selling 20 million bendable phones next year.