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Samsung Electronics is expected to unveil its latest foldable smartphones next month with lower price tags compared with its predecessors, industry sources said on Saturday.

The South Korean tech giant is expected to start sales of the Galaxy Z Fold3 at around 1.99 million won ($1,744), which is 17 percent lower than the 2.39 million won set for the previous model, according to the sources.

The price of the Galaxy Z Flip3 is also expected to be around 22 percent lower than the predecessor at 1.28 million won, reports Yonhap news agency.

The latest strategy apparently comes in line with Samsung's effort to boost sales of its foldable smartphones and gain advantages in terms of the price as its archrival Apple Inc. is also set to unveil new models later this year.

Samsung is expected to announce its release of the two smartphones, along with other accessories on August 11.

Galaxy Z Fold3 might come with support for the S Pen Pro.

S Pen Pro's support for the Z Fold 3 isn't a major surprise as the company has been hinting toward some sort of S Pen support for the foldable for some time.

A recent report said that the Galaxy Z Fold 3 will feature an under-display camera. Its next clamshell foldable Galaxy Z Flip3 is expected to have a bigger outer display.

The Galaxy Z Flip 3 is expected to feature a larger external display of 1.83 inches. It has a dual-camera system, which reportedly includes a 12MP main snapper and a 12MP ultrawide snapper.

Apple is widely expected to introduce a new iPhone in September.