Foldable phones have now become even more accessible with Samsung permanently cutting down the price of its unlocked Galaxy Z Flip 5G by $250. The revised price of this foldable phone will be $1,199.99.

This price cut makes Galaxy Z Flip 5G the lowest-priced foldable phone offered by Samsung, according to Android Authority.

With very few foldable phones in the market, Samsung is now offering better experience at a lower cost. Its direct competition Motorola Razr 5G is also priced higher at $1,400.

Initially foldable phones were known to be expensive because of supply shortages for their parts and a more complicated manufacturing process. However, price cuts make more sense now with Samsung entering its third year of manufacturing foldable smartphones. The company is hoping to expand its target market by making foldables accessible to more people.

While Samsung's Galaxy Z Flip 5G offers last year’s Snapdragon 865 Plus chip, this phone is a faster device with solid cameras, 256GB of storage and a unique design that sets it apart from traditional smart phones.

While Galaxy Z Flip 5G is the lowest you can go in foldable smartphones, one also has an option to opt for other traditional Samsung smartphones at the same price point. Samsung's 128GB Galaxy S21 Ultra with its faster processor is another option to go for at the same price of $1,199.99.