The global foldable smartphone segment is expected to surge this year

The global foldable smartphone segment is expected to surge this year
Photo Credit: Counterpoint

The global foldable smartphone segment is expected to surge this year defying current economic headwinds as the premium market shows resilience and steady demand, report said.

Research firm Counterpoint estimated the foldable smartphone shipments to hit 16 million units this year growing 73% from 9 million units last year.

“Foldables not only bring fresh design to smartphones – traditionally ruled by bar-type form factors – but also more screen real estate. This is growing in importance with smartphone use cases expanding, especially across media, entertainment and work,” Jene Park, Senior Analyst, Counterpoint said in the report.

During the first half of this year Samsung continued to lead the foldable category it created with the first Galaxy Fold device. Huawei and OPPO came in a distant second and third.

Samsung’s share of the foldable market was 62% in the first half of this year which is expected to jump to 80% in the second half with its new Galaxy Fold 4 and Flip 4 product launches, Counterpoint estimated.

Samsung’s dominance will continue for some time. Huawei, Oppo, Xiaomi and vivo are all introducing new foldables but they are mostly limited to the Chinese market, Park said.

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