Samsung’s newest foldable phone rolls out with HEFTY price tag

Samsung’s newest foldable phones are not so pocket friendly.

Samsung is expanding the functionality of its foldable devices, but it isn't addressing what is likely the single biggest turnoff for customers: the exorbitant price.

Samsung unveiled updates for its tablets, smartwatches, and foldable gadgets on Wednesday at its annual Unpacked event, which was held in South Korea for the first time. All of the devices, however, have undergone just minor modifications, including the customary advancements in screen and processing technology as well as a few extra bells and whistles.

Samsung's fifth-generation foldable smartphones—the 6.7-inch Z Flip5 that collapses into a 3.4-inch tablet and the 6.2-inch Galaxy Z Fold that unfolds into a 7.6-inch display—were the main focus of the presentation. Both smartphones have more durable batteries, better cameras, and improved designs.

The cost, however, has not changed. Similar to last year and in keeping with other foldable on the market, the Z Flip5 starts at $999.99 and the Z Fold5 starts at $1,799.

Samsung continues to be enthusiastic about the form factor and is without a doubt the market leader for foldable phones. However, despite influencers and celebrities displaying a resurgence in desire for retro flip phones, foldable and flexible displays are still not widely used.

Approximately 600,000 to 13 million foldable devices were shipped globally between 2019 and 2022, according to Counterpoint Research. By 2027, the company predicts that shipments would top 100 million, accounting for nearly 38% of the premium market. But according to industry research firm iDC, there were 1.2 billion cell phones supplied globally in 2017.

The unusually high prices for these devices probably account for a large portion of their lack of popularity. Lowering the cost of foldable could help the sector gain more traction, but due to expensive parts like flexible screens and specially made hinges, manufacturers might find it difficult to do so any time soon.