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Samsung seeks to lower the price of foldable phones to take on the iPhone

Samsung seeks to lower the price of foldable phones to take on the iPhone

Samsung Electronics is considering adding a low-cost option to its foldable mobile phone lineup to speed up sales of this new type of product.

“We are trying to make a leap in price positioning,” said TM Roh, head of Samsung’s mobile business. “We’re thinking hard about the timing, but it’s certainly going to be a tall order.”

The world’s largest smartphone maker is in talks with supply partners to reduce production costs for foldables without compromising key specifications. Samsung was the first major producer to launch a sub-$1,000 foldable phone, with its $999 Galaxy Z Flip quickly becoming the most popular product in the category.

Samsung seeks to lower the price of foldable phones to take on the iPhone

Samsung Galaxy Z Fold 5 (left) and Galaxy Z Flip 5 smartphones

foldable offer a more direct challenge to Apple ‘s mainstream iPhone lineup , which starts at $799. Samsung has so far positioned the foldable as a premium and premium device, including partnering with fashion brand Thom Browne to reinforce the product’s luxury attributes.

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