Last Update: December 29, 2022, 18:29 IST
Samsung has led the segment for a few years but that could change in 2023
Samsung has always been present in this segment but next year more brands may enter the growing competition.
Global foldable smartphone shipments are expected to grow by 52 percent (YoY) to reach 22.7 million units in fiscal 2023, a report showed on Thursday.
According to Counterpoint Research, the key drivers will be Samsung and Chinese original equipment manufacturers (OEMs) looking to make a mark, especially in Europe and China.
For fiscal year 2022, global foldable shipments will reach 14.9 million units. Cumulative shipments in Q1-Q3 2022 grew by 90 per cent YoY to 9.5 million units.
However, global foldable smartphone shipment growth is set to decline in Q4 2022 due to global inflation and economic slowdown.
“The numbers are small when viewed in the context of the broader market, but given the ever-important ultra-premium segment ($1,000 and above), we are seeing foldables beginning to catch up,” said Tarun Pathak, global director at Counterpoint. ” smartphone practice.
“In that category, foldables hit double-digit shipment shares this year, and we expect that to exceed 20 percent in 2023,” he added.
The global folding market will witness strong competition in 2023 as more Chinese OEMs are expected to enter the space.
However, Samsung will continue to lead the market. The report states that HONOR, Motorola and Xiaomi are expected to enter the foldable smartphone market outside China.
Meanwhile, Huawei, Oppo and Vivo are expected to launch new foldable products in 2023.
“In 2023, competition in the global foldable smartphone market is set to intensify as the number of participating OEMs increases,” said Jen Park, senior analyst.
Apple remains absent from our short-term forecasts, according to Park, but they are known to take their time.
“For now, it’s just a waiting game on the guidance and listening to the rumor mill like the rest of the market,” Park said.
Apple may reportedly launch its foldable smartphone ‘iPhone Fold’ by 2025, which is expected to feature a flexible OLED display.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)