For some time now, we have been waiting for the price of folding phones to come down so that more people can afford these cutting-edge devices. Motorola seems to have taken the first big step toward making that happen with the new version of the Motorola Razr, which will be available later this month.

The Motorola Razr 2023 is a scaled-down version of the Motorla Razr+ that debuted earlier this year. This new phone uses a less powerful processor and a much smaller external display. The trade-off, however, is a lower price: the Motorola Razr is $699, while the Motorola Razr+ and Samsung Galaxy Z Flip 5 cost $999.

The new foldable is not the only device Motorola announced today (October 10). The handset maker also announced a new version of the 2023 mid-range Motorola Edge, and the new version seems to address one of our biggest complaints about the Motorola Edge 2022.

Here is what we know about both the Motorola Razr 2023 and Motorola Edge 2023, including pricing, release date, and features.

Placing the new Motorola Razr next to the Motorola Razr+, you may have trouble telling the devices apart at first; the two phones are essentially the same size and weight, with the new Razr being slightly thicker and weighing a bit more. The vegan leather casing and display Corning Gorilla Glass Victus are also back in the Motorola Razr 2023.

But a major difference quickly becomes apparent: the 3.6-inch external display on the Motorola Razr+ made that phone a pleasure to use. Instead, there is a 1.5-inch OLED strip that can alert you to incoming call notifications and convey information such as weather and upcoming appointments. This is in contrast to the Razr+'s exterior panel, which can run full apps, a sacrifice that may be too much for some.

There are other differences as well: the Motorola Razr 2023 has a reduced refresh rate, with a main panel refresh rate of 144 Hz versus the Razr+'s maximum of 165 Hz. More importantly, the new phone runs on a smaller processor (Snapdragon 7 Gen 1 to be exact) and has only 128GB of storage on the device, twice as much as the Razr+.

Not all changes are worrisome. Motorola has raised the megapixels of the standard Razr's main camera to 64MP from the Razr+'s 12MP. This change should mean that Razr owners will have the option of either shooting at full 64MP resolution or using pixel binning to take 16MP photos for better brightness, which should mean clearer photos in darker locations. Either way, it is a clue that Motorola sees the target audience for this phone as people on a limited budget who want the portability of a foldable phone and the ability to take many photos regardless of lighting conditions.

The ultra-wide lens on the back of the phone and the selfie cam on the internal screen are unchanged from those offered by the Motorola Razr+. And while the outer screen may have shrunk, it still serves as a viewfinder, allowing users to take selfies with the more powerful outer lens.

The Motorola Razr 2023's reduced features translate into a $300 price difference with the Motorola Razr+. In addition, if you order unlocked from Motorola, Amazon, or Best Buy when it goes on sale on October 19, you will receive an additional $100 discount, bringing the price of the Motorola Razr+ to $599.

T-Mobile, Metro by T-Mobile, AT&T, Xfinity Mobile, USCellular, Boost Infinite, Boost Mobile, and Consumer Cellular will also offer the phone on October 19. Cricket will join them a day later.

Along with the Motorola Razr, Motorola will introduce a new software feature called Motorola Unplugged. Think of this as Motorola's take on the Focus mode that iPhone users enjoy with Apple's iOS software. Unplugged allows users to activate a mode where only authorized apps and notifications are available.

The idea behind Motorola Unplugged is that while at work, you can choose to use only work-related apps, such as your email client. If you want to detox your digital life, you can program Unplugged to not launch social media apps for a set amount of time.

Motorola Unplugged debuts on the new Motorola Razr, but the handset maker says it will come to the Motorola Razr+ in the coming weeks. Additional Motorola devices are set to receive Unplugged, although Motorola did not say which ones.

As a conventional mid-range phone, the Motorola Edge 2023 may not have the excitement of the Motorola Razr. However, the phone seems to address the biggest problems encountered when testing the previous model last year.

The Motorola Edge 2022 was a great phone, although it did not stand out among mid-range phones offering the same features at a lower price. The Motorola Edge 2022 did not take consistently good pictures and had mixed colors.

The 2023 Edge is looking to change this situation. The 50MP main camera on the latest Edge has an f/1.4 aperture to capture more light. According to Motorola, this new lens can capture 64% more light than a camera with an f/1.8 lens.

The 13MP ultra-wide camera on the back of the Motorola Edge 2023 does double duty. It can take wide-angle photos, but it can also be used as a macro camera, so the 2023 phone does not have to carry an extra sensor.

The new version of the Edge has an increased charging speed of 68W, up from 30W in the new model, which Motorola believes will provide enough power to last a full day after 10 minutes.The MediaTek Dimensity 7030 chipset is the Motorola Edge 2023 is the last of the major changes to the Edge 2023.

This new phone faces the same dilemma as its predecessor. Google and Samsung introduced new mid-range products this year, the Pixel 7a and Galaxy A54, respectively, but iPhone fans continue to look to the iPhone SE if the flagship iPHone's price is too objectionable. And that was before the $599 Galaxy S23 FE was introduced.

Like the S23 FE, the new Motorola Edge will cost $599 when it goes on sale today. In addition to Motorola, Amazon and Best Buy will sell the phone.