Samsung is reportedly preparing an affordable counterpart to its premium Galaxy Fold smartphone, with the later tipped to re-release internationally next month after initial technical issues.

The Galaxy Fold is Samsung’s first foldable smartphone and is tipped to launch in Australia for nearly A$3,000.

The ultra-premium device was initially unveiled in April, but pulled back and some pre-orders reportedly cancelled after early reviews experienced display faults.

According to Bloomberg, the launch of Samsung’s affordable foldable phone could be cancelled should the Galaxy Fold not sell well.

The cheaper device will reportedly feature a 6.7-inch display screen which would fold into a “pocketable square.”

Unlike the Galaxy Fold, the handset would closely resemble a traditional phone when open, rather than a large rectangle.

The news comes as Samsung further ramps up its affordable premium phone portfolio, expanding its A Series with a new 5G variant which is confirmed to release in Australia.