Foldable smartphone prices to dip below $1,500 by 2021, says display maker BOE VP

The Huawei Mate X and the Samsung Galaxy Fold are both priced in and around $2000.

Foldable phones are a thing in 2019 and though they're not quite ready to hit store shelves just yet, they're certainly among the most desirable gadgets for a lot of people.

Earlier this year, both Samsung and Huawei announced their own versions of a foldable phone — Galaxy Fold and the Huawei Mate X. While both phones look distinctively different from one another, both feature eye-watering price tags, even by premium flagship standards.

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The Huawei Mate X. Image: Reuters

The Samsung Galaxy Fold, which is expected to start selling by the end of April, starts at $1,980, while the Mate X, which is expected to start shipping in June, has a price tag of around $2,600.

This is very likely one of the reasons why very few people around the world are actually considering buying a foldable phone, even though the tech is fascinating.

However, as per Zhang Yu, the Vice-President of Chinese display makers, BOE, the price of the foldable phones could see a considerable drop by 2021. In a statement to GizmoChina, Yu stated that BOE expects prices to drop to around $1,500 within the next two years.

Meanwhile, as the production of foldable displays begins to pick up, a number of OEMs are also developing their own foldable phones. This list of phone manufacturers includes Xiaomi, LG, Lenovo and even Motorola. More competition definitely means that there will be a dip in prices of foldable phones, but will it be enough to drive a market-wide shift is something only time will tell.

(Also read: Foldable smartphones explained: Huawei's Mate X vs Samsung Galaxy Fold)

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