New Samsung foldable phone will be a lot cheaper than the Fold, report claims

Samsung is working on a new foldable phone, to be released in February, and this one won't break the bank.

This is according to a report by The Korea Herald, which cites industry sources.

The new foldable phone will have a clamshell design, similar to the recently launched Motorola Razr, and a price tag of about 1million won or $845 — significantly less than the Samsung Galaxy Fold, which costs $1,980. It's due to be launched early next year, perhaps in February, alongside the company's upcoming flagship, the Galaxy S11.

This might make the launch interesting: If the report is accurate, the foldable phone might actually be one of the cheaper devices launched in February, as new Galaxy S phone is priced at around $1,000 at launch.

The report offers no details on this device's specs. The moderate price indicates Samsung might follow Motorola's strategy of positioning the clamshell foldable as a mid-range device — though it's worth noting that even the foldable Razr is pricy, at $1,499.

We've heard about Samsung's plans to possibly launch a clamshell foldable back in March, and then again in September. A Bloomberg report then claimed that phone will have a 6.7-inch display and a luxury flair, with Zegna helping out with the design. The company had a patent for a vertically-folding phone as early as 2016, and the company showed what such a device might look like in October 2019.

The Korea Herald also claims Samsung is working on another foldable phone, to be launched around August 2020. That one is likely to be an upgrade to the Galaxy Fold, which also means it'll probably be just as pricy.