Samsung Electronics has slashed the price of its foldable phone, the Galaxy Z Flip 3

 Samsung Electronics has slashed the price of its foldable phone, the Galaxy Z Flip 3, by around 50% in overseas markets. The phone has generated a lot of buzz for its unprecedented value for money (performance relative to price), with some online retailers selling out immediately upon release.

According to overseas media outlet SamMobile, Samsung Electronics has lowered the price of the Galaxy Z Flip 3 by almost half in the Indian market. The 128GB model can be purchased for KRW 790,000 (INR 49,999), a discount of about 50% from the original price of KRW 1.52 million (INR 95,999) on India's largest online shopping mall Flipkart. The news of the half-price discount for the Galaxy Z Flip 3 has spread widely, and all units were sold out in a flash.

It seems that Samsung Electronics is trying to sell off its remaining stock of the old foldable phone by lowering its price. The Galaxy Z Flip 3 was also released in Korea at a reduced price of KRW 1,056,000 from its original price of KRW 1,155,000, with a previous discount of KRW 100,000. The initial release price of the Galaxy Z Flip 3 was in the KRW 1.3 million range.

Released in August 2021, the Galaxy Z Flip 3 has gained popularity among the MZ generation, including celebrities, due to its cute design resembling a compact makeup kit when folded, and its high degree of utilization of the external display. It is a foldable phone with a clamshell structure that folds horizontally in half.

In terms of specifications, the rear dual camera is composed of a 12-megapixel ultra-wide-angle camera and a 12-megapixel dual-pixel camera, and there are a total of three cameras, including a 10-megapixel front camera. When using the "Flex mode" by folding the middle half, it is possible to take selfies freely without using both hands.

Samsung Electronics has heavily reduced the price of the Galaxy Z Flip 3 because its successor, the Galaxy Z Flip 4, has already been released in the market, and the release of the new model, the Galaxy Z Flip 5, is also scheduled soon.

On the other hand, the upcoming Galaxy Z Flip 5, which Samsung plans to release in the second half of the year, will be powered by the Qualcomm Snapdragon 8 second-generation processor. It is also expected to feature the largest cover display among all previous flip-foldable phones. Furthermore, Samsung's self-developed water drop hinge system will be applied, making it possible to fold the phone without any gaps, and the crease issue is expected to be significantly improved compared to the previous model.