The main reason for the device’s cancellation is that TCL wasn’t able to keep the price as low as it first intended. On top of that, it also expected the new foldable Samsung devices to cost more. The cheapest TCL could make its foldable smartphone was $800 due to recent component shortages.
The TCL foldable phone, codenamed Project Chicago, was almost ready for production. The company recently sent CNET a prototype unit that was close to the production version. Strait said the company now won’t launch its first foldable device for at least 12 to 18 months. Another interesting thing Strait revealed is that when TCL launches its first foldable phone it won’t be a revamped version of the Chicago prototype, but a whole new device.
Although the foldable market is growing each year, it is still a premium product category. In combination with recent component shortages, the COVID-19 pandemic and rising costs in foldable production, TCL has made the difficult decision to suspend the launch of its first commercially available foldable smartphone until the company can produce and bring it to market at a price point that’s accessible to as many consumers as possible.
TCL remains committed to investing in flexible display technologies and is closely monitoring the market to determine the best time to launch a foldable smartphone. In the meantime, we continue to focus on our “5G for All” initiative introduced at Mobile World Congress 2021, in which we work with carriers around the world to deliver 5G solutions to all consumers across a variety of price points and product categories.” – Stefan Strait, TCL Chief Marketing Officer
The Chicago device wasn’t TCL’s first foldable endeavor. The Chinese company previously showcased prototypes of a triple-folding 10-inch tablet, a foldable screen wrapping around the wrist, and both folding and rollable displays in the same device. TCL still believes folding phones are the future, but the company thinks they are still not ready for the masses.
