According to a survey, the global foldable phone market rose by more than 264 per cent between 2020 and 2021 and would reach 27.6 million units in 2025. With a compound annual growth rate (CAGR) of 69.9 per cent from 2020 to 2025. As a result, foldable phones are becoming more popular. The market is now on domination by flip and fold form factors, with Samsung serving as the market leader in both categories.
Samsung Galaxy Z Flip 3 and Galaxy Z Fold 3 are the newest models from the South Korean business. Their launch last year in new form factors made them the most popular foldable phones available at the time.
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According to the latest research from market intelligence agency International Data Corporation (IDC), global sales of foldable phones. It comprises both flip and folds form factors, will reach 7.1 million devices in 2021, according to IDC. According to the company, the exports resulted in a 264.3 per cent increase over the 1.9 million units supplied in the previous year.
According to IDC’s predictions, foldable phones expects to develop rapidly over the next years and reach a market worth of $29 billion (about Rs. 2,17,500 crore) in 2025. From the information provided by the company, the proportion of foldable phones in the smartphone industry was
- 0.5 per cent in 2021,
But it can expect to rise to 1.8 per cent by 2025.
Compared to the 3.1 per cent growth rate of regular smartphone shipments from 2020 to 2025. The CAGR of foldable phone shipments expects to be much higher.
The Galaxy Z Flip 3 and Galaxy Z Fold 3 smartphones’ success in 2021 was largely owing to Samsung’s growth. An IDC Research Director recently said that foldable phones made up a third of the premium ($1,000+) Android market last year.
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According to Popal, “even though the Flip appears to be more popular, it is still too early to declare a clear winner”. However, the entire foldable market is growing and attracting new participants. So vendors should continue to keep a careful watch on the industry as a whole.
According to IDC, these phones constitute the most inventive aesthetic transformation in the history of smartphones. It says that although few individuals choose folding phones and tablets, manufacturers are targeting corporate clients with attractive product offerings.
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In the words of IDC Research Manager Anthony Scarsella; “Samsung’s recent success with these smartphones has revived the industry, as rivals hurry to market.”. This year, we’ve already seen other manufacturers introduce new foldable devices. As the form factor becomes popular, we expect other companies to attempt to steal market share from Samsung.
Ritika Sharma
I write as a writer, as someone very familiar with the Internet, as someone who is completely at ease with current technology and the way it is transforming the social fabric of the globe, the business world in particular, and as a former web developer.