The popularity of foldable smartphone has grown and even gathered a lot of momentum in recent times. This is likely due to the launch of newer models, but the significant growth is still confined to a small user base in a niche market. However, a new report has suggested that over 18 million units are expected to ship by the end of 2022.
According to a Counterpoint Research report, the foldable handset shipments share in the overall market will remain within the single digit for the near future as the segment has OEM experiment with various form factors, designs, materials, and more. In 2020, the foldable devices market only accounted for a fraction of a percent of last year’s 1.3 billion US Dollars total market. However, this is expected to reach just about 1.2 percent by the year 2022.
As per Counterpoint Research Senior Analyst Jene Park, “Samsung has led the segment in terms of design, marketing, and shipments, dominating last year with over 80% share of the foldables market. The company also had the strongest lineup, with various models and variants including a second gen flagship. This year, however, Samsung is facing more competition, with the release of Huawei’s critically lauded Mate X2, Xiaomi’s Mi Mix Fold, and announcements from Vivo, OPPO, and TCL hinting at 2021 launches.”
Furthermore, the report also stated that there are a few major reasons for the growth of the market, namely the fall of foldable handset prices that are now around 1,000 to 1,500 US Dollars. Similarly, more smartphone makers are also working on this along with Apple‘s entry into the market as well.
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