Samsung’s next foldable phone will reportedly be priced under $1,000

The phone's tech specs remain a mystery at this point.

What you need to know

• A report out of South Korea claims Samsung's next foldable smartphone is likely to be priced at around 1 million won ($845).
• The device is expected to have a clamshell form-factor, similar to the Motorola's new RAZR.
• Samsung plans to ship around 6 million foldable smartphones next year.

Samsung's first foldable smartphone, the Galaxy Fold finally went on sale in September this year, after numerous delays. Despite its exorbitant $2,000 price tag, Samsung has sold nearly half a million Galaxy Folds already. The company's next foldable smartphone, however, will reportedly be a lot more affordable.

A new report from The Korea Herald suggests the company's clamshell foldable phone, which is expected to be launched early next year, could be priced around 1 million won ($845) in South Korea, which would make it significantly more affordable than the Galaxy Fold as well as Motorola's new RAZR. Needless to say, a lower price tag should help ramp up sales.

As claimed by Korean publication The Bell a few weeks back, Samsung is planning to ship 6 million foldable smartphones in 2020. To help it achieve that target, the company is expected to have a wider lineup of foldable phones next year. At the same time, Samsung is focusing on expanding the availability of the Galaxy Fold to at least 60 countries by February next year.

Samsung compatriot LG is also tipped to enter the foldable phone market in 2020. According to recent patent applications filed by the company, its first foldable phone could have an outward-folding design, similar to the Huawei Mate X. No other details regarding the upcoming LG foldable phone are available currently.

Samsung Galaxy Fold

$1980 at Best Buy

Samsung's Galaxy Fold is a premium Android smartphone unlike any other on the market right now. Featuring a foldable design, the Galaxy Fold has a 7.3-inch Infinity Flex Dynamic AMOLED main display and a 4.6-inch Super AMOLED cover display. It runs on the octa-core Snapdragon 855 processor, paired with 12GB RAM and 512GB UFS 3.0 storage. You also get a total of six cameras and a 4,380mAh battery.