In the ever-evolving landscape of mobile technology, the allure of foldable phones has steadily gained momentum. According to the latest report from market analysis firm TrendForce, a staggering 15.9 million units of foldable phones were shipped in the year 2023. This figure marks a remarkable 25% increase compared to the previous year, propelling foldable phones to capture a combined market share of 1.4% of all smartphone shipments.
TrendForce attributes the relatively low adoption rate of foldable devices primarily to their hefty price tags and durability concerns. Despite these challenges, the appeal of these innovative gadgets continues to resonate with consumers seeking cutting-edge technology and futuristic designs.
In terms of brand dominance, Samsung maintains its position as the leading vendor of foldable smartphones, commanding a significant 66% market share. However, this figure represents a notable decline of over 17 percentage points from its 2022 figures, signaling a shift in the competitive landscape.
The stronghold that Samsung once enjoyed in the foldable phone market is projected to diminish further, with an anticipated market share of 60% by the year 2024. Meanwhile, Huawei emerges as the second-largest player in this space, capturing a market share just shy of 12%, fueled by robust demand in the Chinese market.
TrendForce predicts that Huawei could surpass the 20% mark in foldable phone market share by 2024, solidifying its position as a formidable contender. Xiaomi trails behind as the third-leading OEM in foldable phone shipments, boasting a market share of 5.4%.
Looking ahead, TrendForce forecasts a continued upward trajectory with an estimated 17.7 million units of foldable devices slated for shipment in 2024, marking an 11% increase. Furthermore, foldable phones are projected to claim a 2% market share by the year 2025, underscoring their growing significance in the realm of mobile technology.
As consumers embrace the possibilities offered by foldable phones, manufacturers are poised to innovate further, driving the evolution of these transformative devices and reshaping the future of the smartphone industry. you are interested to learm more about computer-aided software engineering.
