Samsung Electronics will discontinue its Galaxy Z TriFold smartphone after selling the device for less than three months, according to a company spokesperson.

The $2,899 three-panel foldable phone will first see sales wound down in South Korea, followed by discontinuation in the United States once remaining inventory is cleared, the spokesperson told Bloomberg.

The Galaxy Z TriFold marked Samsung's first attempt at a three-panel foldable smartphone design, representing the company's effort to expand beyond its existing dual-screen foldable offerings in the Galaxy Z series.

The decision to halt sales comes as the foldable smartphone market continues to face challenges with consumer adoption, despite manufacturers' investments in the technology. Samsung has been a leading player in the foldable phone segment, but the premium pricing of such devices has limited their mainstream appeal.

No specific reason was provided by Samsung for the discontinuation decision. The company has not announced whether it plans to develop future iterations of three-panel foldable devices or will focus resources on other smartphone technologies.