Foldable smartphones have become the new craze in the electronics space, with many tech-savvy individuals itching to upgrade to the latest and greatest phone out there. While there are a few foldable phones in the early testing stages, it’s unclear exactly when consumers can expect them to hit the market.
Samsung Galaxy Fold – Orders Cancelled
Samsung Electronics (OTC:SSNLF) received another blow Friday when Best Buy announced that it is canceling all of the preorders for the highly-anticipated Galaxy Fold. Despite calling the Galaxy Fold “one of the most curious and highly anticipated devices of 2019,” the major retailer decided to pull out of Galaxy Fold preorders after Samsung failed to provide a new release date for the foldable phone.
Samsung announced that it will also be canceling preorders from customers who haven’t confirmed that they still want a Galaxy Fold on May 31st due to federal regulations.
The new phone, announced in February, will cost a whopping $1,980. Since early testing began, the phone has received some less-than-stellar feedback from tech reviewers. Bloomberg reviewer Mike Gurman said that his review unit broke completely after two days, while the Verge’s Dieter Bohn said his Galaxy Fold’s screen stopped working after a small bulge appeared on the crease.
The Galaxy Fold is a 4.6 inch-smartphone that opens up into a 7.3-inch tablet and will run on Android 9.0.
This isn’t the first time the South Korean company has faced hardships in relation to hardware malfunctions. In fact, Samsung spent the better part of two years winning back the trust of consumers after millions of its Galaxy Note 7 phones were recalled due to exploding batteries.
Which Foldable Phone Will Hit the Market First?
As consumers wait on Samsung to launch the Galaxy Fold, other smartphone developers are working on their own models. Royole FlexPai is the first fully flexible phone in the world and has already been released to the Chinese market. However, critics were less-than-enthused about the phone’s features and software.
Controversial Chinese multinational mobile company Huawei Culture (SHE: 002502) also released its foldable phone, the Huawei Mate X, at the Mobile World Congress event in Barcelona in February. The Mate X has a 4,500mAh battery with fast charging, a high-end Kirin 980 chipset, a triple-lens camera, 8GB of RAM, 512GB of storage, and supports 5G. However, the innovative phone comes with a hefty price tag of $2,600 USD.
It is unclear how the ban of Huawei equipment in the US will affect sales of the Mate X once launched. However, Trump’s executive order is unlikely to have an effect on Huawei’s revenue which has continued to grow significantly despite all of the controversy surrounding the company.
Motorola (NYSE:MSI) (FRA: MTLA) is also looking to gain a slice of the up-and-coming foldable phones market by partnering with Verizon to revamp its Motorola RAZR flip phone. The foldable phone design is similar to its 2004 counterpart, flipping upwards to reveal a foldable full-length screen on the inside. The Motorola RAZR V4 is expected to hit the market in the summer of 2019 for an estimated price of $1,500.
Xiaomi Corp (OTC:XIACF) (HKG: 1810) has also revealed its plans to develop a double folding smartphone, however, the company said at this point it is still in the prototype stage.
Investors interested in the tech space will no doubt be keeping an eye out to see when Samsung will officially release the Galaxy Fold to the public as well as with other mobile phone developers will bring foldable phones to the market.
Featured Image: Wikimedia
