Seoul: Samsung Electronics Co. has increased the prices of its foldable smartphones, reflecting rising memory chip prices and the recent volatility in the foreign exchange market, industry sources said Wednesday.

According to Yonhap News Agency, the retail price of the 512-gigabyte (GB) edition of the clamshell-style Galaxy Z Flip 7 was revised to 1.73 million won (US$1,148), up from 1.64 million won. The price of the Galaxy Z Fold 7 with the same storage, which opens like a book, also rose to 2.63 million won from 2.53 million won. Both smartphones were released in July.

Samsung has maintained prices for more affordable 256 GB models, as well as the Galaxy S26 series, which hit the shelves last month. The 512-GB Galaxy S25 Edge, released in May, saw its price rise to 1.74 million won from 1.63 million won.

Industry watchers indicated that the new prices appear to reflect rising global costs of key components, including memory chips, along with the recent volatility in the foreign exchange market. "With prices of key parts rising gradually, it was inevitable to raise prices for some products," a Samsung Electronics official said.