World shipments of foldable smartphones are projected to surge by nearly three quarters to round 16 million models this yr.
The premium market exhibits resilience and regular demand, regardless of present financial headwinds, a brand new examine from Counterpoint Analysis confirmed.
The 73 per cent annual development from 2021’s 9 million models would make this machine class the quickest rising within the total smartphone sector, and the momentum will proceed with an extra 44 per cent soar to 23 million models in 2023, the Hong Kong-based analysis firm mentioned.
Samsung will proceed to dominate the business, and is anticipated to solidify its maintain on prime after it launched its new gadgets, the Galaxy Z Fold 4 and Flip 4, this week.
“Samsung has led the market because the starting, and we predict its dominance will proceed for a while. Huawei, Oppo, Xiaomi and Vivo are all introducing new foldables however they’re principally restricted to the Chinese language market. Motorola could be the solely contender in markets just like the US for now,” Jene Park, a senior analyst at Counterpoint, wrote.
“We anticipate the brand new Galaxy Fold 4 and Flip 4 combo to proceed Samsung’s momentum within the area and promote near 9 million models this yr, serving to the corporate’s second-half foldables share to leap to 80 per cent.”
The expansion in recognition of foldable smartphones has been largely attributed to Samsung, which pushed the class into the mainstream, beginning with the unique Fold in 2019.
Whereas the class is rising, it nonetheless barely makes a dent within the total smartphone sector. Foldables maintain a 0.5 per cent market share within the business, with conventional smartphones accounting for 99.5 per cent of the whole with greater than 1.34 billion shipments final yr, in keeping with the Worldwide Information Company.
Even with a projected 70 per cent compound annual development charge via to 2025, foldables would eke out lower than a 2 per cent market share by then with 27.6 million shipments, it mentioned.
Counterpoint’s examine confirmed that Samsung held 62 of the foldable machine market, with China’s Huawei and Oppo coming in at a distant second and third with 16 per cent and three per cent, respectively.
Counterpoint’s newest projections are decrease than its earlier forecast, which mentioned that foldable shipments would leap 83 per cent to 16.6 million models this yr. That might outperform the general smartphone market, which is anticipated to say no by 2.5 per cent to about 1.36 billion, it added.
The analysis firm sees the premium market exhibiting sturdy development regardless of macro headwinds, with ultra-premium gadgets main the phase.
“Foldables not solely convey recent design to smartphones — historically dominated by bar-type kind components — but in addition extra display screen actual property. That is rising in significance with smartphone use instances increasing, particularly throughout media, leisure and work,” Mr Park mentioned.