Could Samsung release a foldable phone for under $500 in 2024?

Galaxy Z Flip 5
(Image credit: Future)

Foldable phones are super cool, but not affordable enough yet for most people. According to a few recent rumors, Samsung could be releasing a new foldable in 2024 that costs less than $500, which would make it a lot easier for people to upgrade to a foldable phone.

Market analyst firm TrendForce (via SamMobile) suggests Samsung will release a mid-range foldable phone in 2024, with predictions based on supply chain sources. Then, an X user (@Tech_Reve) seems to think that Samsung will price this mid-range foldable between $400 and $500, but doesn't cite any sources for this prediction.

There's a chance Samsung could make this rumored foldable, but with the vagueness of both rumors, we're not getting our hopes too high just yet.

How possible is a $500 foldable from Samsung?

SamMobile points out that the Galaxy A54 phone Samsung just released in March 2023 with a $450 price tag, and this phone doesn't have any folding parts or a hinge. To make a foldable phone with the same price tag, or even $50 higher for a retail price of $500, it would have to either take a significant dive in specs or Samsung would have to sell it at a loss.

Most foldable phones available right now are over $1,500, so the likelihood of a $400 to $500 foldable phone seems like a pipe dream. The Galaxy Z Fold 5 launched at $1799, and the Galaxy Z Flip 5 launched at $999. If Samsung releases a lower spec version of the Z Flip 5, it could easily be $200 to $300 cheaper, but a bigger price difference doesn't seem likely.

If Samsung released a foldable priced at $400 or $500, it would probably be classified more as "low-cost" than "mid-range." And it would likely feature lower specs in every way, from the camera and display to the processor and available RAM and storage. This would pit a low-quality phone that could fold against a budget-friendly traditional smartphone with better specs, and that seems like a losing battle for the hypothetical low-cost foldable.

The chances of Samsung releasing a mid-range foldable in 2024 are pretty high, but the rumor suggesting a $500 retail price seems too wild to be true. As with all rumors, only time (and more rumors and leaks) will tell.