Samsung's flip-phone style foldable rumored to cost about $850

Samsung has been hinting at a forthcoming clamshell-style phone since the release of the $1,980 Galaxy Fold. But the company apparently isn't the only one looking to bring out more foldable phones next year. Both Samsung and LG Electronics will put new foldable devices on the market in 2020, according to a Wednesday report from the Korea Herald.

The Seoul-based newspaper, citing unnamed industry sources, said Samsung is expected to unveil the clamshell-style phone around February, along with its Galaxy S11. It'll then release a second edition of the Galaxy Fold in August. The clamshell-style gadget is estimated to cost about $850. 

The Herald adds that LG Electronics' first foldable phone is expected to come to market in 2020 with a design similar to the Huawei Mate X. 

Despite Samsung's early struggles with the first Galaxy Fold, foldable devices seem poised for a big year. Motorola plans to release its new clamshell $1,500 Razr foldable that resembles the classic flip phone in January. Other phone makers like TCL and Xiaomi also have been experimenting with the form factor in different ways, including double and triple folding designs. 

And while most early foldables have been pricey, this week the brother of the late drug kingpin Pablo Escobar announced that he is making a $350 foldable phone in the kingpin's name. 

Neither Samsung nor LG responded to CNET's request for comment. 

CNET's Eli Blumenthal contributed to this report.