alphabet inc GOOD Google will supposedly release his highly anticipated foldable phoneThe pixel wrinkle soon, allowing users to trade theirs apple inc AAPL iPhones at a discounted price.

What happened: Google to enter the foldable smartphone market. The company is expected to launch its first Pixel Fold in June, which will be unveiled at the upcoming Google I/O developer conference on May 10. reported CNBC citing some internal communications.

With this launch, Google will challenge Samsung Electronics Co.,Ltd SSNLF market dominance in the foldable smartphone business.

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What you can expect from Pixel Fold: According to the documents, Google’s upcoming foldable phone, internally codenamed “Felix,” will feature the strongest hinge of any foldable device. The company intends to promote the foldable phone as a compact and waterproof device with a 5.8-inch external display.

In addition, when the phone is unfolded, a 7.6-inch tablet-like screen is revealed, which is similar to that of Samsung’s foldable phones. It will feature Google’s Tensor G2 chip, the same processor used in last year’s Pixel 7 and Pixel 7 Pro models, the report says.

Expected price range: The Pixel Fold is expected to cost over $1,700, positioning it as a competitor to Samsung’s $1,799 Galaxy Z Fold 4.

Google didn’t respond immediately gasoline gas Request for comments.

Why it matters: Google plans to offer incentives to encourage people to switch to the Pixel Fold. This may include a trade-in program that would allow users to trade in their existing Pixel, iPhone or Android phones for a discount on the new foldable phone, the report said, citing internal documents.

Pixel Fold buyers may also be offered a free deal pixel clockthe company’s latest smartwatch.

It was previously reported Samsung is considering the possibility from…