It has certainly been a big week for Samsung, as the company unveiled two new foldable phones. Our Galaxy Z Fold 3 review and Galaxy Z Flip 3 review are still in progress as of this writing, but the two phones address concerns about the durability of the fold, add some welcome new features, and - oh yeah - they replace debuted at a lower price than the devices they are replacing.

Not bad for a one-day product launch, and we haven't even talked about the Galaxy Watch 4 and Galaxy Buds 2, which were also heavily featured at last Wednesday's Galaxy Unpacked. But even with four products debuting at the one-hour event, one might say that there are still holes in Samsung's mobile product line.

A hole the size of the Galaxy S21 FE, to be exact.

Long rumored but never officially confirmed by Samsung, the Galaxy S21 FE could still debut this year, say Samsung watchers. Unlike the Galaxy Z Fold and Z Flip models, which feature a foldable design, the S21 FE will be a more orthodox smartphone. Like last year's Galaxy S20 FE, it will take many of the top features from Samsung's flagship Galaxy S21 lineup and put them in a slightly less expensive package.

After the Galaxy Unpacked event dedicated to the foldable, there is still a need for that kind of device, even if Samsung has lowered the price of this year's model; the Galaxy Z Fold 3 starts at $1799, an astronomical debut price for the Galaxy Z Fold 2 which is $200 less than that of the Galaxy Z Fold 2. The Galaxy Z Flip 3 is the first folding device to start below $1000, starting at $999.

This is all part of Samsung's goal of making foldable phones appeal to a wider audience; the Galaxy Z Fold 3 and Galaxy Z Flip 3 might be said to have accomplished that feat.

"More appealing is relative," says Truong Nguyen, senior principal analyst at market research firm Gartner. Improvements and lower prices have made the new foldable devices more attractive, but we're still only talking about a very small base to begin with. [The Galaxy Z Fold 3 and Galaxy Z Flip are available for pre-order ahead of their August 27 launch. After all, Samsung has taken many steps to allay concerns about the durability of its foldable devices. Both devices now feature IPX8 water resistance and scratch-resistant screens. Samsung is also working to bring more foldable-optimized apps to the world, and has added features such as S Pen support to the Z Fold 3 (but as an optional accessory).

Still, hurdles remain that will prevent folding phones from gaining traction; the Galaxy Z Fold 3's starting price may have dropped, but $1,799 is still a lot to pay for a phone. The same goes for the $999 Galaxy Z Flip 3. The device has no telephoto lens. And there are still visible wrinkles on the Flip's display.

"Samsung took the lead in launching foldable phone technology, overcoming early failures with impressive iterations and revealing a strong high-end pair of Fold 3 and Flip 3 at its latest Unpacked event. 'Nevertheless, Samsung's core customer base continues to be the aspirational smartphone consumer. Combining the premium S Series features with fun touches such as a wide range of color variations and mid-tier pricing, the FE Series is proving to be a dynamite combination."

That's where the Galaxy S21 FE could come in. This rumored device may not be as innovative as the Galaxy Z Fold 3 or Galaxy Z Flip 3, but it could offer a reliable experience at a lower price.

And last year's Galaxy S20 FE also offers some clues. This model does not have the great zoom feature of the Galaxy S flagship, but it does have a telephoto lens that the more expensive Galaxy Z Flip 3 does not. Perhaps the Galaxy S21 FE will follow suit.

As for the Galaxy Z Fold 3, it may be Samsung's first to have a camera under the display, but the 4MP resolution could result in sketchy photos; the Galaxy S20 FE uses a more conventional punch hole cutout for its selfie camera but had a more robust 32MP sensor.

When talking about a phone like the rumored Galaxy S21 FE, "conventional" may not be a bad word. Sure, Samsung has pulled off some clever technical feats to extend the Galaxy Z Fold and Z Flip to larger displays, but it's clear that a portion of the smartphone-buying public isn't necessarily looking for that, especially if it means a lower price.

"I think consumers who can't afford a flagship phone, which is most people, appreciate having flagship features without the flagship price tag," Nguyen said.

And that may be the biggest feature for the Galaxy S21 FE. Rumor has it that the phone will be cheaper than the $799 Galaxy S21, possibly coming in at $699. This would be $300 cheaper than the Galaxy Z Flip 3, the most affordable foldable phone in Samsung's lineup.

Speculation surrounding the Galaxy S21 FE points to a phone that will be similar to the S21 model introduced earlier this year, perhaps with more vibrant color variations. Like last year's S20 FE, the S21 FE will likely feature the same processor (in this case the Snapdragon 888) as its other more expensive siblings, but will be scaled back in other areas such as design.

"FE devices have been incredibly popular for Samsung, with the Galaxy S20 FE and its 5G-enabled variant being the best performing devices released by the Korean manufacturer in the past few months," said Uswitch.com's Doku. There's no reason why Samsung wouldn't want to continue that with the Galaxy S21 FE - new foldable phone or not.