Samsung will reportedly end sales of its Galaxy Z TriFold smartphone in South Korea on March 17, three months after its launch, according to South Korean newspaper Dong-A Ilbo.
The decision to halt sales of the $2,899 foldable device is attributed to rising component costs, which have made continued production unprofitable.
In the United States, the Galaxy Z TriFold, which launched in January, will remain available until existing inventory is depleted. Samsung has not publicly confirmed the report regarding the cessation of sales. Engadget has contacted Samsung for comment.
The company sold the device in limited quantities through its website, with each restock reportedly selling out within minutes. Approximately 3,000 units were sold across the initial two allotments.
Industry sources cited by Dong-A Ilbo indicated the TriFold served as a technology showcase rather than a product intended for significant revenue generation. Increased costs for components such as DRAM and NAND flash left minimal profit margins for the device.
In South Korea, the phone briefly traded for nearly three times its retail price on the secondary market, according to the Dong-A Ilbo report.
