Foldable smartphone shipments are up 25% YoY, Samsung reigns supreme

Based on the most recent report from TrendForce, foldable smartphone shipments are up 25% YoY. Companies sold 15.9 million foldable smartphones in 2023, which is a 25% improve in comparison with 2022.

Foldable smartphone shipments are up by 25% YoY, and a brand new improve is anticipated this 12 months

One other improve is anticipated this 12 months, by the way in which. TrendForce expects foldable smartphone shipments to develop to 17.7 million models by the top of 2024, which might signify a development of 11%. That’s only a projection for the time being, although.

The expansion charge is under market expectations, although. That may be attributed to 2 essential components, says TrendForce. The primary one is “shopper retention is low as a result of frequent upkeep points confronted by first-time foldable telephone customers, resulting in a insecurity within the product”.

The worth factors of foldable telephones will play an enormous function of their development charge

The second is the present worth factors of foldable telephones. They nonetheless have to succeed in the “candy spot” for shoppers, says the supply. That second level is definitely crucial one, as the expansion of the foldable smartphone market is carefully tied to it.

Samsung nonetheless reigns supreme within the foldable smartphone market. That’s not stunning in any respect contemplating what sort of a lead the corporate had within the final couple of years. Samsung additionally makes its foldables broadly obtainable, and so they’re well-known at this level.

Its market share did drop in comparison with 2022, fairly a bit, although. It had 80% of the market in 2022, a bit underneath 70% in 2023. Based mostly on the report, that quantity is 66.4%.

Foldable smartphone shipments 2023 TrendForceFoldable smartphone shipments 2023 TrendForce

Samsung plans to maintain round 60% of the foldable smartphone market this 12 months

Samsung plans to maintain round 60% of the foldable smartphone market within the close to future, which is doable. Huawei, then again, plans to develop to almost 20%. In 2023, the corporate’s market share was 11.9%.

Xiaomi was third-placed with 5.3%, whereas everybody else grabbed 16.4% of the foldable smartphone market. OnePlus, OPPO, and HONOR have all launched outstanding foldables final 12 months, and so they’ve reached world markets. It can take time and a sequence of nice merchandise and advertising and marketing strikes to make a real dent within the world foldable smartphone market, although.

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