Samsung Galaxy Fold will break price records when it arrives in Australia on October 30

The first folding smartphone will arrive in Australia next week and, despite a record-breaking price, Samsung execs are tipping the bold new device will sell out.

The smartphone that folds open like a book will finally arrive in Australia next week, with Samsung predicting its first device with a flexible screen will “sell out very quickly” after its October 30 arrival.

But the Samsung Galaxy Fold will break all price records when it appears in stores, with its $2999 cost smashing the previous limit set by Apple’s iPhone.

And analysts also warned it would “take an enthusiastic buyer to take the plunge” on technology that had not been seen in a phone before, and a device that had already been recalled and redesigned once before.

Samsung’s Galaxy Fold will break all price records when it appears in stores. Picture: AP

Samsung Australia mobile vice-president Garry McGregor announced the long-anticipated launch date for the Galaxy Fold, saying the Australian arm of the company had fought hard to make sure “we got it in the hands of Australians as early” as possible.

“We’re relieved it’s finally here but we’re also super excited about introducing a new category of smartphone,” he said.

“It feels very like when we first introduced the Samsung Galaxy Note — people laughed when we showed off a 5.3-inch smartphone screen; now people are saying it’s not enough.”

Mr McGregor said he expected the folding smartphone to become both a “status symbol” and a productivity tool for keen early adopters after its launch, and revealed “tens of thousands of Australians have pre-registered their interest” for the device.

The highly unusual smartphone features a 4.6-inch screen on its front but unfolds like a book to reveal a flexible, 7.3-inch screen like you might see on a tablet.

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The Galaxy Fold also features six cameras, 512 gigabytes of storage, a fingerprint scanner, and comes with wireless earbuds and a case in the box.

The smartphone’s launch will come six months after its original international launch, however, that was delayed after early testers discovered the screen could be damaged by removing what looked like protective plastic, or by dust.

The Samsung Galaxy Fold smartphone features a screen on the front and a larger screen inside when you unfold it.

Telsyte managing director Foad Fadaghi says the Fold shows Samsung is pushing the boundaries of technology.

Samsung quickly withdrew and changed the design of the Galaxy Fold, reinforcing its hinge and screen, reducing the space between the panels, and extending its protective covering.

Telsyte managing director Foad Fadaghi said the Fold was a potentially risky bet for consumers but showed Samsung was pushing the boundaries of technology to give users a reason to upgrade their devices and spend more on them.

“It’s going to take a very enthusiastic buyer to take the plunge,” he said.

“It’s going to be a buyer who is going to be comfortable with potentially having some teething problems. It’s not going to be for everyone but it will definitely stand out.”

But Samsung’s folding smartphone might not be the only ultra premium smartphone on the market for long.

Other folding phones on the way include the Huawei Mate X, which was also delayed earlier this year, the Royale FlexPai, and the Microsoft Surface Duo unveiled early this month.

Canalys predicted smartphone buyers would buy fewer than two million folding phones this year and GlobalData service director Emma Mohr-McClune said the technology may need further revisions before going mainstream.

“So far we’ve seen around half a dozen different ways to make smartphones fold and, in my opinion, not one of these pioneer models look rugged enough for public presentation or sale at this time,” she said.