When Samsung released the Galaxy Z TriFold at the end of last year, the folding phone caused quite a stir. Despite that astonishingly high price tag of $2,899, the company has had no trouble getting people to buy the two-hinged device.
But after just three months things are changing. Reports say that Samsung is ceasing sales of the device in Korea, and that existing stock in other parts of the world will not be replenished.
News comes courtesy of Bloom which reports: “Samsung Electronics Co. is winding down sales of its Galaxy Z TriFold smartphone after roughly three months on the market, suggesting the $2,899 device was always intended as more of a technological showcase than a cornerstone of the company’s mobile lineup”.
The report goes on to say:
The Korean company will begin by halting sales in its home market, then discontinue business in the US once it clears remaining inventory, a company spokesperson said. The move had been anticipated: this month, Samsung’s website stopped teasing future restocks of the bleeding-edge foldable, which has two hinges and unfurls into a large 10-inch tablet. It now simply says the TriFold is “sold out”.
Buyers have successfully managed to find stocks at Samsung Experience Stores in Frisco, Texas and Queens, New York in recent days, according to reports on social media and Reddit, indicating that at least some units remain available for now.
The decision is a curious one. The high price has not stopped Samsung from being able to sell units as fast as it can make them, so it would appear unlikely that poor sales are to blame. As Bloomberg points out, the Galaxy Z TriFold was a technical showcase, and it is entirely possible that the company was making incredibly small margins on sales despite the massive price tag.
With the cost of RAM continuing to creep up and up, it may well be the case that producing the Galaxy Z TriFold is simply not financially viable without introducing a price hike that would render it beyond the reach of even more people.
