A piece of great news has surfaced on the internet. The foldable form factor is rapidly gaining traction in the smartphone market and is poised to become mainstream in the coming years, according to TM Roh, President & Head of Mobile Business at Samsung Electronics. Roh predicts that annual sales of foldable smartphones will surpass 100 million units, with this year being a crucial tipping point for the segment. Samsung is projecting global sales of over 30 million units across brands, driven by the improvements in its affordable foldable model.
Roh pointed out that third-party applications are already optimizing their experiences for foldable smartphones, indicating the growing interest and acceptance of this new form factor. Research firm Canalys estimates that by 2025, the foldable segment will experience a compounded annual growth rate of 34 percent, reaching 35 million units. While currently accounting for just 1 percent of Q1 2023 shipments, the segment has seen a significant 68 percent year-on-year growth.
Samsung currently holds a dominant 68 percent share of the foldable segment and Roh emphasized that once the threshold of 100 million units per year is reached, foldable smartphones will become major players in the premium segment. The timing of foldable smartphones becoming the dominant form factor, at the expense of conventional bar-type smartphones, will largely depend on the Indian market, which Roh identifies as the largest and fastest-growing market highly receptive to technological innovation.
Moreover, Roh expects the foldable category to expand into other product categories, such as tablets and PCs, further driving its development and adoption. Samsung’s confidence in the potential of foldable smartphones stemmed from the desire to provide consumers with large screens, more information, and portability. The foldable design allows for both screen size and portability, while also ensuring protection for valuable data.
Samsung’s focus on the Indian market is evident, with the company aiming for over 50 percent market share in the super-premium segment with its new Galaxy Z Flip5 and Z Fold5 smartphones. The production of these devices in Samsung’s subsidiary in Noida exemplifies India’s significance as a manufacturing powerhouse and a showcase for Samsung’s best practices.
The foldable smartphone market is poised for significant growth, with Samsung at the forefront of this technological revolution. With the continuous improvement of foldable smartphones and the entry of other brands, the initial concerns surrounding this form factor have been dispelled. Samsung’s focus on innovation, including improving performance and introducing new form factors, ensures that foldable smartphones will continue to provide meaningful experiences for consumers.