Samsung making efforts to popularize foldable phones by cutting the price of Galaxy Z Fold 2 in South Korea

The Galaxy Z Fold 2 is the second-generation folding phone offering from Samsung. This phone was launched back in September 2020 with an ex-factory price of $2,122 (nearly 2.398 million won), is now available at just $1,675 (around 1.892 million won) in South Korea.

However, the company has lowered the price of Galaxy Z Fold 2 to popularize the foldable smartphone category. Meanwhile, the ex-factory price refers to the selling cost of goods from the manufacturer’s plant before distributors sell products to their customers.

In South Korea, interested consumers can purchase the Galaxy Z Fold 2 as low as 972,000 won. Moreover, the country’s three major telecom firms including SK Telecom Co., KT Corp., and LG Uplus Corp are also providing subsidies.

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Aside from this, the Korean tech giant has also decreased the price of its clamshell-type foldable smartphone, Galaxy Z Flip, to 1.349 million won from 1.65 million won. Therefore, the latest price cuts from Samsung are part of its efforts to enhance accessibility to its Galaxy Z phones.

On the other hand, Samsung is also expected to launch new folding smartphones with lower price tags to boost sales. Regarding this, industry insiders speculate that the company could add a budget model of the Galaxy Z series while it is also expected that it may also introduce a double-folding smartphone to its portfolio.