From 9 million units last year to 16 million units this year, the global foldable smartphone is set to grow 73% as per reports. Based on the current economic headwinds, the premium market shows resilience and steady demand. The growth is expected to reach 26 million units in 2023.
Samsung accounted for 62% share of foldables in H1 2022 while Huawei and OPPO came in second and third.
Senior Analyst Jene Park comments, “Samsung has led the market since the beginning, and we think its dominance will continue for some time. We expect the new Galaxy Fold 4 and Flip 4 combo to continue Samsung’s momentum in the space and sell close to 9m units this year, helping the company’s H2 2022 foldables share to jump to 80%. Huawei, OPPO, Xiaomi and vivo are all introducing new foldables but they are mostly limited to the Chinese market. Motorola may be the only contender in markets like the USA for now.”