Foldable phones usually cost more than €1,000, but more and more people are finding them interesting, and sales will increase significantly in an overall smartphone market that is in the red. The main player is Samsung. Regardless, they will remain niche for at least the next few years.
Global sales of foldable phones grew 75% to 14.2 million units last year and are expected to reach 21 million units this year, according to IDC data.
IDC predicts that the total foldable phone market will reach 48 million in 2027 as average prices drop, more models become available and customers believe these phones can withstand years of tens of thousands of folds and unfolds.
The average sales price fell 10% in 2022 and will fall 7% this year.
Overall, however, foldable devices make up a small portion of the overall market: 1.2% last year of the total smartphone market of 1.19 billion units. In 2027, the total share of foldable smartphones is estimated to reach 3.5% of the total smartphone market, which is expected to grow to more than 1.35 billion units.
Source: Hot News
Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.