It’s been a couple of years since the foldable smartphone has become a reality. While such devices are quite new, South Korean tech giant Samsung is gearing up to launch its third-generation of foldable phones on 11th August at Galaxy Unpacked event.
The upcoming devices from Samsung are expected to have an improved design and come at a competitive price point. With major improvements and lower pricing, the company is hoping to drive more sales of foldable phones.
A report from Counterpoint Research forecasts that the shipments of foldable smartphones will grow by three times this year compared to last year. However, the number of shipments is still expected to be in single digit, around 9 million.
But in a couple of years, by 2023, there could be 10x growth in shipment of such phones. It adds that Samsung will be dominating the market with more than 88 percent of the market share for foldable devices.
Currently, there are only a handful of companies with foldable smartphones and thus, Samsung remains the market leader. However, the South Korean giant will continue to dominate the market with over 75 percent of the market share even after other brands launch their own foldable phones, claims the report.
Samsung seems to be the only major company that is pushing for foldable smartphones to become mainstream. Other smartphone manufacturers like Xiaomi, OPPO, Vivo, and Honor among others are expected to launch their first commercial foldable smartphone late this year but a launch timeline is not available yet. Even Apple is reportedly working on a foldable iPhone which could get launched in 2023.
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