The Samsung Galaxy Z Fold 3 and Z Flip 3 are reportedly being produced in "staggering" numbers for a rumored release this summer.

According to well-connected leaker John Prosser, the two foldable phones are now in production, which, if true, would meet the scheduled release date of August 27. However, the rumored production scale is more than a little surprising: Prosser writes that Samsung is ordering 50,000 to 70,000 units per day, for a total production of 7 million units.

This number may not seem like much considering that Apple sold 7 to 9 million units in the first weekend of the iPhone 12, but a folding device with a four-figure price tag is clearly not suitable for the mass market.

In fact, Samsung has only produced 1 to 2 million foldable phones in the past two generations combined, so if Prosser's information is correct, the company is confident that this is the year foldable phones go mainstream.

Prosser does not provide a breakdown of the ratio of Folds to Flips, but assuming that the overall figure of 7 million units is correct, keep in mind that this is still a rumor, even if the source has a strong track record.

So far, two factors seem to be undermining the sales potential of the foldable phone: for the first, Samsung has responded to criticisms in style; for the second, Samsung has been able to make a strong case for the Galaxy Fold's success, and for the third, Samsung has been able to make a strong case for the Galaxy Fold's success. While the launch of the first Galaxy Fold was famously delayed due to a malfunctioning review unit, the final product was far more reliable, and the Galaxy Z Fold 2 is a sleeker and significantly more robust phone with an improved design in every aspect.

While there may be some questions about long-term use, the promised 200,000 folds would require opening and closing the phone more than 273 times a day in order to break before the standard two-year contract expires, which seems reliable enough for most people. [The Galaxy Z Fold 2 is $1,999 and the Z Flip 5G is $1,449, while the Galaxy S21 Ultra can be had for $1,199. Recent rumors that Samsung is trying to address this issue by introducing the next generation of phones at a 20% price reduction seemed a bit too ready at the time, but when combined with the reported production numbers, it seems much more plausible.

Suffice it to say that if Samsung is indeed increasing production significantly, the dramatic price cut feels more plausible. Not only would producing more folderable handsets lower the cost per unit, but the company would likely not produce so many unless it was confident that it could shift a significant percentage. A significant price cut would be just the thing to spur that confidence.

In any case, we hope it won't be long before we see results. We've heard rumors before that the Samsung Galaxy Z Fold 3 and Z Flip 3 would launch in August, and Prosser now says he had a more precise date - although again take these with a pinch of salt. According to this leaker, Samsung will unveil the phone at the Unpacked event on August 3 and launch it 24 days later on August 27. We'll get to that and we'll bring you the official confirmation ...