Latest news with #Fold2
Time of India
23-07-2025
- Business
- Time of India
The Escobar Fold phones were a scam after all
Remember those unbelievably cheap foldable phones branded with Pablo Escobar 's name? Turns out they were exactly what they looked like, too good to be true and a scam. Olof Kyros Gustafsson , the 32-year-old Swedish mastermind behind Escobar Inc. , pleaded guilty to fraud and money laundering charges, finally putting an end to one of tech's most brazen scams. Gustafsson convinced thousands of people to shell out $399 for the " Escobar Fold 2 ," promising cutting-edge foldable technology at a fraction of Samsung's $2,000 Galaxy Fold price. The catch? Most never received their phones. Those lucky few (mostly influencers) who did get a package found Samsung Galaxy Folds wrapped in cheap gold foil, Escobar Fold phones were not made by Escobar Inc. The Escobar Inc caught attention when Marques Brownlee famously unboxed an Escobar Fold 2 on YouTube, revealing it was simply a Samsung Galaxy Fold with gold foil stickers slapped on top. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Why seniors are rushing to get this Internet box – here's why! Techno Mag Learn More Undo Even more telling, Gustafsson later admitted in company correspondence that the Fold 2 was "an overstock purchase of the Samsung Galaxy Fold" bought from retailers and wholesalers. The first device, the Fold 1, bore striking similarities to the FlexPai from Chinese manufacturer Royole, though Gustafsson denied any connection. Now, that Fold 2, per Marques, was sent by Escobar Inc. themselves. That tells that Gustafsson deliberately sent sample devices to influencers to drum up interest, knowing the buzz would drive more orders. It worked, The videos inadvertently gave the fake company some credibility, eventually pocketing over $300,000 from unsuspecting customers. Books instead of Folds These thousands of people who paid around $399, would get a "Certificate of Ownership," over their mail. After that one would hope for their Escobar Fold phone. Instead they received Pablo Escobar's brother Roberto's autobiography and a congratulatory flyer featuring scantily-clad women. When buyers demanded refunds, Gustafsson used these book shipments as "proof" that products had been delivered, successfully blocking refund requests through payment processors. The company didn't stop at phones. Gustafsson also hawked "Escobar Flamethrower," a dupe of Elon Musk's Boring Company flamethrower, an "Escobar Gold 11 Pro Phone" that was supposedly a refurbished iPhone, and even "Escobar Cash," that the Escobar Inc. marketed as the world's first physical cryptocurrency. None of these products existed beyond promotional materials and the occasional sample sent to reviewers. CEO faces 20 years jailtime for $1.3M fraud Federal investigators eventually caught up with Gustafsson's operation. He was arrested at his home in Marbella, Spain, in December 2023 during a joint raid by Spanish police and U.S. Internal Revenue Service agents. After unsuccessfully seeking asylum in Spain to avoid extradition, he was brought to Los Angeles to face charges for 115-count federal indictment Court documents show Gustafsson laundered over $307,000 through bank accounts in the United States, Sweden, and the United Arab Emirates during just the first six months of the scheme. Gustafsson sentencing is scheduled for December 5, and he faces faces up to 20 years in federal prison on fraud charges and up to 10 years for money laundering when he's sentenced on December 5th. He must also pay $1.3 million in restitution to the customers he duped, though many victims are likely wondering if they'll ever see that money either. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
&w=3840&q=100)
Business Standard
03-07-2025
- Business Standard
7 years of Galaxy Fold: Samsung's foldable journey and what comes next
Samsung is set to host its next Galaxy Unpacked event on July 9, where it will unveil the next generation of its foldable smartphones, including the anticipated Galaxy Z Fold 7. The company was the first smartphone brand in India to launch a consumer-ready foldable device back in 2019. While the original model didn't carry the 'Galaxy Z' moniker, it laid the foundation for what would become the Galaxy Z Fold series. Over the years, Samsung has made significant advancements in foldable smartphone technology. With the Galaxy Z Fold 7 on the horizon, here's a look back at the evolution of Samsung's foldables and what we can expect next. Samsung Galaxy Fold Launch: 2019 Thickness when folded: 15.7-17.1mm Thickness when unfolded: 6.9-7.6mm Weight: 276g Launched in 2019, the Galaxy Fold was the world's first mainstream foldable smartphone, offering a large-screen experience when unfolded and a compact footprint when folded. Its key innovation was the inward-folding hinge mechanism that protected the main display. It featured a 7.3-inch QXGA+ AMOLED folding screen and a 4.6-inch HD+ AMOLED cover display. Samsung Galaxy Z Fold 2 Launch: 2020 Thickness when folded: 13.8-16.8mm Thickness when unfolded: 6.0-6.9mm Weight: 282g The Fold 2 was the first foldable under the 'Galaxy Z' branding. It introduced a Hideaway Hinge using optical fibers to enhance stability while narrowing the gap between folded halves. It also enabled Flex Mode, allowing the device to stay open at various angles for hands-free use. The main display grew to 7.6 inches, and the cover screen became more practical at 6.23 inches. Samsung Galaxy Z Fold 3 Launch: 2021 Thickness when folded: 14.4-16.0mm Thickness when unfolded: 6.4mm Weight: 271g With the Fold 3, Samsung made a leap in durability. It became the first foldable with an IPX8 water-resistance rating and introduced Samsung's Armor Aluminum frame. Rubber seals and corrosion-resistant components in the hinge added protection against dust and moisture. It also brought S Pen support to the foldable form factor. Samsung Galaxy Z Fold 4 Launch: 2022 Thickness when folded: 14.2-15.8mm Thickness when unfolded: 6.3mm Weight: 263g The Fold 4 reduced both weight and thickness by switching from a rotary to a linear interlocking gear hinge design. It weighed nearly 20g less than the Fold 2. The biggest upgrade was in the camera department, with the introduction of a 50MP primary sensor, replacing the older 12MP camera setup. Samsung Galaxy Z Fold 5 Launch: 2023 Thickness when folded: 13.4mm Thickness when unfolded: 6.1mm Weight: 253g In 2023, the Fold 5 adopted a Flex Hinge, allowing the inner screen to fold in a water-drop shape. This eliminated the gap when folded and significantly reduced visible creases. The new hinge design also helped make the device slimmer and more durable. Samsung Galaxy Z Fold 6 Launch: 2024 Thickness when folded: 12.1mm Thickness when unfolded: 5.6mm Weight: 239g While retaining much of the Fold 5's aesthetic, the Galaxy Z Fold 6 added minor design refinements like flatter side rails and a boxier look. It introduced AI-powered features such as Sketch to Image, designed specifically to leverage the larger foldable display. Samsung Galaxy Z Fold: What comes next Set to launch on July 9, the Galaxy Z Fold 7 could be the slimmest and lightest foldable from Samsung yet, with an expected unfolded thickness of 3.9mm to 4.5mm and a weight of around 215g – about 24g lighter than the Fold 6. Reports also indicate that the cover screen could grow to 6.5 inches, up from 6.3 inches, and adopt a more traditional aspect ratio. The inner display may expand to 8.2 inches, providing an even more immersive experience. Additionally, Samsung's teasers have hinted at the possibility of a Galaxy Z Fold 7 Ultra, a premium variant that could feature enhanced materials and further performance improvements.
