Google recently announced a new version of Android 12L, which is designed for devices with large display, including foldable smartphones. Immediately there were suspicions, that they are designed for Pixel Fold, which Google has been working on for several years. It has been speculated that the foldable "Pixel" could be unveiled along with the final release of Android 12L. However, it looks like that will never happen.
Ross Young of Display Supply Chain Consultants (DSCC), citing several supply chain sources at once, reports that Google has changed its mind about releasing the Pixel Fold to the market. The reason is that the company believes the product will not be as competitive as it needs to be.
Also, Young believes that the price of the foldable "Pixel"will likely be higher than that of its main competitor Samsung in the US and Europe. Given that Young's track record is generally excellent, it's likely true.
It is not ruled out that Google will prepare a new foldable smartphone in time and still release it on the commercial market.