Recap: Samsung was widely expected to unveil the Galaxy Z Flip 5G alongside the Galaxy Note 20 and the Galaxy Fold 2 during its next Unpacked event scheduled for August 5. By going ahead and announcing it now, it would seem that Samsung is planning to devote even more time and attention to its other new products next month.

Samsung on Wednesday formally introduced the Galaxy Z Flip 5G, further expanding its portfolio of 5G devices.

As the name suggests, the Galaxy Z Flip 5G is more or less identical to the original Galaxy Z Flip that arrived earlier this year, albeit with support for faster 5G networks. The handset also gets Qualcomm's new Snapdragon 865 Plus 5G SoC which the chipmaker said earlier this month should deliver a 10 percent boost in overall performance compared to its predecessor.

Foldable smartphones with bendable displays were being positioned as the next big thing by smartphone manufacturers - exorbitant price tags and all - as recently as five months ago. Some in the industry had concerns as it related to the durability of the bendable displays used in these devices, believing that the screen tech simply wasn't mature enough for use in mainstream consumer electronics.

Just as the marketing machine was ramping up and devices were starting to hit the market, Covid-19 happened. Suddenly, foldable smartphones and many other things took a backseat to more pressing matters and consumer interest shifted back to more affordable devices. Only now is the discussion around foldables starting to resume.

Whatever the reasoning, it is public knowledge now and you'll be able to get your hands on the Galaxy Z Flip 5G starting August 7 in mystic gray or mystic bronze color schemes priced at $1,449.99.