As South Korean tech giant Samsung gets ready to reportedly roll out its much-awaited foldable smartphone Galaxy Fold on September 6, a new report suggests that a cheaper Galaxy Fold device for $1,000 (roughly Rs. 71,600) is in the works. The current Samsung Galaxy Fold handset is priced at nearly $2000 which is not an amount most people are willing to pay or is not accessible to a larger segment of the population.
The company is planning to use a cheaper design for bringing down its price with just 256GB of internal storage, half of what the current Galaxy Fold offers at 512GB, SamMobile reported on Friday.
"The new Galaxy Fold that's currently being developed bears model number SM-F700F. We're told that it will come with 256GB of internal storage, half of what the Galaxy Fold features. Little else is known about this device right now," the publication wrote.
In terms of specifications, the Samsung Galaxy Fold features a 7.3-inch primary flexible AMOLED display and a secondary 4.6-inch screen. The premium smartphone comes backed by a 7nm Qualcomm Snapdragon 855 octa-core SoC, paired with 12GB of RAM and 512GB storage.
On the rear, it packs a 16-megapixel + 12-megapixel + 12-megapixel triple rear camera setup. The device also sports a 10-megapixel camera on the front for selfies.
Samsung originally projected that it would produce as many a million Galaxy Fold smartphones in the first year. However, the initial production volume of the handset is estimated be around 20,000 to 30,000 units.
The Galaxy Fold was unveiled at MWC 2019 in Barcelona back in February. The company had planned to launch the new model as its first foldable phone on April 26 with a price tag of $1,980 (roughly Rs. 1,36,300). It missed the original schedule and delayed the launch to fix the issues noted by early reviewers, though.