TCL wont release a foldable smartphone this year

Electronics company TCL is pausing its plans release a lower-cost foldable phone this year, the company confirmed in an email to The Verge. Its clamshell-style foldable phone, codenamed Project Chicago, was in mid-development when the company made the decision to put it on indefinite hold. According to TCL the delay is due in part to rising production costs and supply chain shortages.

“Although the foldable market is growing each year, it is still a premium product category,” Stefan Streit, chief marketing officer of TCL said in a statement to The Verge. “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...

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