Seoul: Amid speculation that Galaxy Fold 2 may not be introduced at the upcoming Samsung event, industry insiders here said on Monday that the new foldable smartphone is likely to be unveiled next month.


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The world's largest smartphone maker released a 13-second video for its August 5 ‘Galaxy Unpacked' event on its Twitter account, with a message "one fold, infinite possibilities."


The video shows Samsung's mystic bronze-colored droplet transforming into a butterfly-like object, which denotes the Galaxy Fold smartphone which had the butterfly image wallpaper when it was first released last year.


Industry insiders said the latest teaser confirms that the South Korean tech giant will unveil its latest foldable smartphone at the online event, alongside other new mobile devices, such as the Galaxy Note 20 phablet and the Galaxy Buds Live wireless earbuds, reports Yonhap news agency.


According to industry sources, Samsung is reportedly considering lowering the price of the Galaxy Fold 2.


The price for the Galaxy Fold was $1,985 in South Korea but sources said the Galaxy Fold 2 could be sold at a lower price than the predecessor.


"Like the Galaxy Note 20, the Galaxy Fold 2 could come up with a lower price tag compared to its predecessor to boost sales," an industry official said.


Industry insiders predicted that Samsung's Galaxy Fold 2 may be available on the market after September following the Galaxy Note 20's release, which is expected to be launched on August 21 in South Korea.


The specs of the Galaxy Fold 2 have not been confirmed, but foreign tech reviewers have predicted that the Galaxy Fold 2 will feature a 7.6-inch screen when unfolded, while having a 6.23-inch cover display, both larger than its predecessor's 7.3-inch and 4.6-inch displays, respectively.