Thu. Jun 13th, 2024

By 2028, foldable smartphones may occupy almost 5% of the market

Natasha Kumar By Natasha Kumar Jun4,2024

By 2028, foldable smartphones may occupy almost 5% of the market

Since the beginning of the modern era of foldable phones, which began in 2019, the leading brand in this segment has been Samsung for a long time. But recently, competition from various players has intensified and the company has gradually reduced its market share. Yes, foldable smartphones of Huawei surpassed Samsung in the first quarter. 2024, and the landscape in this segment has begun to change.

Analysts of the research company TrendForce note that Samsung's share has fallen from 60% to just over 50%. And while foldable smartphones may only account for about 1.5% of the global smartphone market by the end of 2024, by 2028 that figure could grow significantly. Despite such problems as the high cost of repair, experts expect that by 2028 the market penetration of this type of device will increase to 4.8%. Especially if the company Apple  will finally present its folding smartphone (enthusiasts have been waiting for this event for years). According to forecasts, in 2024 deliveries of folding phones will reach 17.8 million units.

By 2028, folding smartphones may occupy almost 5% of the market

That at times, other Chinese companies such as Xiaomi, OPPO and vivo have faced problems in expanding sales of their foldable phones. Motorola, on the other hand, has seen explosive growth with its Razr 40 clamshells.

But of course, Samsung has no plans to give up – the company aims to regain market leadership with the upcoming Fold6 and Flip6, which promise increased performance and reliability. Huawei is also targeting the clamshell market aggressively, with plans to add a budget model to its portfolio. Rumors also persist that Apple could enter the foldable phone market sometime before 2027, and TrendForce analysts note that if it does happen, the product could shake up the segment.

Natasha Kumar

By Natasha Kumar

Natasha Kumar has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Times Hub, Natasha Kumar worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my natasha@thetimeshub.in 1-800-268-7116

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