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Samsung is planning a 400-500$ foldable for 2024
(mashable.com)
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this post was submitted on 11 Nov 2023
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I would guess that this cheaper model won't have any outer display and maybe the inner display might be LCD instead of OLED. And of course the CPU will be Snapdragon 7 series, which is fine
Apart from that I don't see where else they could save costs.
I agree that the prices are inflated just because it's something new and novel.