Global Shipment Of Foldable Phones In 2023 To Cross 22 Million Units More Brands To Launch Devices

Global Shipment Of Foldable Phones In 2023 To Cross 22 Million Units, More Brands To Launch Devices

Last Updated: December 29, 2022, 18:29 ISTSamsung has led the segment for a few years but that could change in 2023Samsung has been ever-present in this segment but next year more

brands could enter the fray increasing competition.Global foldable smartphone shipments are expected to grow 52 percent (YoY) in FY2023 to reach 22.7 million units, a report showed

on Thursday.Key drivers will be Samsung and Chinese original equipment manufacturers (OEMs) looking to make their mark, particularly in Europe and China, according to Counterpoint

Research.For FY 2022, global foldable shipments will reach 14.9 million units. Cumulative shipments in Q1-Q3 2022 grew 90 per cent YoY to 9.5 million units.However, global foldable

smartphone shipment growth is set to decline in Q4 2022 due to global inflation and the economic downturn.“The numbers are tiny when put in the context of the broader market, but

looking at the ever-important ultra-premium segment ($1,000 and above), we're seeing foldables start to take hold, said Tarun Pathak, Director of Counterpoint's global To install

smartphone practice."In that category, foldable will hit double-digit shipment shares this year, and we expect it to rise above 20 percent in 2023," he added.The global foldable

market will likely see stronger competition in 2023 as more Chinese OEMs are expected to enter the space.However, Samsung will continue to lead the market. HONOR, Motorola, and

Xiaomi are expected to enter the foldable smartphone market outside China in earnest, said the report.Meanwhile, Huawei, OPPO, and Vivo are expected to launch new foldable products

in 2023.“In 2023, competition is set to intensify in the global foldable smartphone market as the number of participating OEMs will increase,” said Senior Analyst Jene

Park.According to Park, Apple remains absent from our short-term forecasts, but they're known for taking their time."For now, it's just a waiting game on guidance and listening to

the rumor mill like the rest of the market," Park added.Apple may reportedly launch its foldable smartphone 'iPhone Fold' by 2025, which is expected to feature a flexible OLED

display.Read all the Latest Tech News here(This story has not been edited by healthick staff and is published from a syndicated news agency feed) Find Out More