Foldable smartphones, it seems, are shaping out to be the future. It is also turning out to be the perfect meeting ground between smartphones and tablet devices given how they can both be the same simultaneously. Samsung also seems to have the lead here, having quite a few foldables to offer in the form of the Galaxy Z Flip 4 or the Galaxy Z Fold 4. No wonder, all of it has made the company the largest player in the segment already. Besides, a few other notable foldable phones currently available include the Huawei Mate X2, Motorola Razr 5G, Xiaomi Mi Mix Fold, and such.
The International Data Corporation (IDC) meanwhile has projected that global shipments of various foldable phone models, including flip and larger fold forms, will witness a rise of over 50 percent in the coming years. The forecast indicates that around 21.4 million foldable units are expected to be shipped worldwide in 2023. This number is significantly higher than the 14.2 million units shipped in 2022, as per the latest data from IDC. According to IDC’s projections, the market for foldable devices is expected to grow significantly in the coming years. IDC forecasts a potential increase in shipments of up to 48.1 million units by 2027, which is more than twice the expected number of shipments for this year.
“The foldable phone market finished slightly higher than previously forecast as consumers start to embrace the new form factor,” said Anthony Scarsella, research manager of mobile phones at IDC.
It is anticipated that the average selling prices (ASPs) will decrease considerably this year, which is an encouraging development as the foldable form factor becomes more affordable. Furthermore, original equipment manufacturers (OEMs) are engaged in a competition to enhance the sturdiness and construction of their foldable devices. Huawei’s Mate X3, which has been recently launched, is an example of this competition. It is the only non-Samsung foldable phone to feature an IP rating for water resistance.
“A 10% decline in ASP helped the market grow 75.5% in 2022, as foldable devices became more affordable in numerous markets,” Scarsella added. “With new vendors and models joining the race this year, we expect the foldable market to be the one bright spot in 2023 with 50.5% growth, while the total smartphone market contracts 1.1%.”
IDC reports that foldable smartphones are typically viewed as high-end devices in all global regions. While there was an 11 percent decrease in the market for foldable phones last year, IDC suggests that consumers have responded positively to the foldable form factor overall.
Apple too is reported to be working on a foldable iPhone device though much of that is shrouded in secrecy. In contrast, a foldable phone from Google – the Pixel Fold seems more realistic and probable at the moment.
With a keen interest in tech, I make it a point to keep myself updated on the latest developments in technology and gadgets. That includes smartphones or tablet devices but stretches to even AI and self-driven automobiles, the latter being my latest fad. Besides writing, I like watching videos, reading, listening to music, or experimenting with different recipes. The motion picture is another aspect that interests me a lot, and I'll likely make a film sometime in the future.
