Samsung's next foldable phone may have a surprisingly low price tag

Samsung's next foldable smartphone may be significantly more affordable than the Galaxy Z Flip. A new report from SamMobile claims the company has a new "budget" foldable phone in the pipeline.

Per the report, the budget foldable phone bears model number SM-F415 and is going to be offered in 64GB and 128GB storage variants. It is tipped to be available in at least three color options at launch: Black, Green, and Blue. While the rest of the phone's specs remain a mystery at this point, it has been spotted on the Wi-Fi Alliance website already. The Wi-Fi certification suggests the phone will likely be unveiled sometime later this year.

This isn't the first time that Samsung has been rumored to be working on a relatively affordable foldable phone. Earlier this year, rumors claimed Samsung would launch a "Lite" variant of the Galaxy Fold with watered-down specs and a $900 price tag in July. The Galaxy Fold Lite is now tipped to arrive sometime early next year.

The budget foldable is likely to have a clamshell form-factor, just like the Galaxy Z Flip. Since the 4G-only Galaxy Z Flip is now available for $1,300 in the U.S., it is possible that the SM-F415 will be priced somewhere around the $800 mark. While the phone may have a similar design to the Galaxy Z Flip, it is likely to come with several downgrades, including a less powerful chipset and lower resolution displays. Despite all the downgrades, however, its significantly lower price tag could potentially make it Samsung's most popular foldable yet.