The foldable smartphones market is continuing to grow globally

The foldable smartphones market is continuing to grow globally

The foldable smartphones

    Due to the great development in the field of manufacturing smartphones, the demand for purchasing these phones has increased significantly, especially with the emergence of professional features for these phones, the latest of which is the foldable smartphones, which was developed by several companies, the most important of which is Samsung, and under which it obtained a patent.

 

 This generation of smartphones is considered an amazing development in the field of the smartphone industry, as it was designed in a very attractive and elegant way with several important features in addition to the strength and durability of these phones.

 Many companies are competing to manufacture foldable smartphones due to the high demand of people to buy them. Demand for these phones has recently increased and their sales have expanded globally, with expectations that they will double in the future.

 

Trend Force, a Japanese company specializing in conducting market research and purchasing trends, conducted a study of the foldable mobiles market and reached results that show that the demand for foldable smartphones will increase and expand globally in the coming years.

 

 In its recently published report, Trend Force presented indicators showing that sales of foldable smartphones may reach more than 70 million units by the year 2027, which will constitute 5% of the market share of smartphones around the world.

 

Based on estimates of the volume of supply and demand and based on the report of the Japanese company Trend Force, it is expected that the sales volume of foldable smartphones will reach 18.4 million units by the end of this year 2023 AD, which constitutes 1.6% of the market share of smartphones globally.

The reason behind the increasing demand for foldable phones globally.

The reason behind this increasing global demand for foldable mobiles is the important features of these phones, such as the large screen size when opening the two ends of the device, in addition to the attractive design, durability, and many other features.

 

The most important thing that drives companies to accelerate the manufacture of these phones and market them globally is the lower manufacturing costs compared to other phones.

 

 Also, the expected large growth in the foldable phone markets is due to the expansion of the production of these phones in the recent period by Chinese companies, as well as the expected decline in the prices of these smartphones, as their prices are expected to fall to less than 1000 US dollars per unit due to the decline in the manufacturing cost of these phones because of the decline in prices. Components, especially the panels that make up the screens.

 

Samsung foldable phones

Samsung is one of the first companies to start manufacturing foldable phones, and the credit for its development is due to it. Later, Samsung obtained the highest percentage of sales of these phones, as Samsung dominated the foldable phone market greatly, and the percentage of its sales of these phones during this year reached 2023 AD only. 12 and a half million units, or two-thirds of the market share.

 

It is noteworthy that Samsung's sales share of foldable phones decreased relatively this year compared to the previous year 2022 AD, as Samsung acquired 82% of the foldable phone market, and the reason for this decline is due to the entry of large Chinese phone manufacturers into the line of competition in the field of making foldable phones.

 

Chinese companies manufacture foldable smartphones

The report submitted by the Japanese company Trend Force expected that the sales of the Chinese company Huawei during this year 2023 AD of foldable phones will reach 2 and a half million units, which represents 14% of the total market share, then Huawei will be followed by Oppo with a market share of 5% and then comes Xiaomi has 4% of the market share.

 

Despite the large sales achieved by Chinese companies, their sales are still limited mainly to the Chinese domestic market, and if they decide to expand further abroad, this is a market that will greatly enrich the foldable phone market and will enhance the growth of the global market.

 

Is Apple developing foldable smartphones?

About the American smartphone company Apple, according to the report, Apple does not intend to launch future versions of the iPhone that are foldable, as it suffers from manufacturing problems that hinder it from doing so.

 

Those problems are the inconsistent brightness of the external screen, as well as the difficulty of adapting the iPhone's joints to become foldable because of the design. But there is no doubt that Apple will overcome these problems and enter the competition due to the increasing demand for foldable phones globally.

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