TCL cancels plans to release a foldable phone this year

TCL announced it will suspend the launch of its first foldable phone, called "Project Chicago" for a year. The news comes as a surprise since TCL has touted its flexible display prototypes for years and even made the flexible displays for at least one well-known foldable.

Now TCL won't launch its first foldable for at least 12 to 18 months, Stefan Streit, TCL's chief marketing officer, said in an interview ahead of Friday's announcement. And when it introduces the device, it won't be Chicago but a revamped product. For now, hopes for a lower-cost foldable device will have to wait.

"We could finish this product and bring it to the market, but this felt somehow... not right," Streit said. "For us, this category is really, really important. We will bring products. We will bring a number of products." Just not the first device TCL thought it'd launch.

TCL is not a newcomer to the smartphone business. The Chinese electronics giant, best known for its televisions, has been in the game from the start. It's the company behind Alcatel, the BlackBerry KeyOne, and hundreds of carrier-branded phones like the T-Mobile Revvl 5G.

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