TCL postponed the release of foldable smartphones and closed Project Chicago, all because of the Samsung Galaxy Z Flip 3

 The Chinese brand TCL was among the first to develop foldable smartphones, but as a result all of them were limited to single prototypes. And so not releasing ready-made gadgets on commercial market, the company and decided to postpone it at all and postponed plans for better times.

Why?

As it turns out, the program to release foldable smartphones codenamed Project Chicago was cancelled due to financial issues - apparently, TCL was not able to keep prices in the range that they originally planned. Looks like the upcoming "clamshell" has been priced at $800 , and this despite the fact that Samsung's main competitor Galaxy Z Flip 3 is only a couple hundred dollars more expensive.

"If someone can spend $800 he can also spend $1,000 ... Probably he will choose a brand he has known for years and trusts more", - sure Stefan Strait, director of marketing for TCL.

 TCL says that due to the ongoing chip shortage crisis, this may not be the right time to enter the market, and explained that the decision was made well before the Samsung Unpacked event. But the company isn't giving up on foldable devices entirely, just waiting until they become more affordable. According to preliminary estimates, the project has been delayed for 12-18 months.

  Meanwhile, CNET showed a prototype of a foldable "foldable" TCL, which was almost ready for release.

Source: Gizmochina, CNET