The foldable smartphone category is ever-expanding. More and more companies are introducing their foldable devices. Previously, we had seen four generations of Fold and Flip devices from Samsung. This year, Samsung will add the fifth generation to its foldable devices portfolio. Besides Samsung, various other smartphone companies have introduced their foldable devices. However, previously, Chinese companies introduced their devices in the local market. Now it seems that Chinese companies are all set to introduce their foldable devices in the international market. It appears that this sector of the tech industry is going to face tough competition in the coming years.
Latest estimates by IDC suggest that foldables will have a combined market share of 3.5% by 2027
Although foldable phones have been available for a while, their shipments are still much below those of conventional smartphone models. According to the most recent IDC data, there will be a substantial increase in foldable device shipments in the upcoming year. It is expected that almost 48.1 million flip and fold devices will reach consumers by 2027. At that point, it is anticipated that the CAGR (compound annual growth rate) of foldable for the years 2022–2027 will outpace that of conventional smartphones by a factor of 10.
According to the latest IDC report, foldables will have a combined market share of 3.5% by 2027 as opposed to 1.2% in 2022. In four years, the market for foldables is projected to be worth $42 billion. With lower ASPs (average selling prices), increased durability, and a variety of fresh releases from various brands all bolstering their attractiveness, IDC researchers estimate foldables will bring 21.4 million total shipments in 2023.
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