Foldable Smartphone Market Expected to Grow, Reach 18 Million Units by 2022: Report

- Advertisement -

Samsung has been a pioneer in the field and had rightly held over 80 per cent of the total market share for foldable smartphones last year

Smartphone manufacturers can look towards tapping a new business opportunity as the market for foldable handsets is predicted to grow to reach 1.2 per cent of the total addressable smartphone market by 2022. According to a report by Counterpoint Research, foldables are expected to form 18 million units of the total 1.3 billion units of smartphones in the market.  

- Advertisement -

The report said that having formed only a fraction of a per cent in 2020 and with manufacturers experimenting with various form factors, designs, materials and operating system variants, shipment share for foldable handsets will stay at low single-digit for the foreseeable future.  

Various smartphone manufacturers are gearing up to pioneer new variants in this segment, particularly Oppo and TCL, whose recent announcements about the launch of new products indicates towards rollable designs also being available in the market in the future. 

With LG Electronics out of the smartphone space, LG Display will also be focusing on attracting new clients for its latest foldable/rollable product lineup.  

“Ultimately, these display makers will have to find a way to scale the product to bring down device prices to meaningful sub-$1000 levels to take it mainstream. Additionally, production yield for these innovative displays will be critical for suppliers to achieve economies of scale,” said Neil Shah, Counterpoint’s vice president of research.

Samsung has been a pioneer in the field and had rightly held over 80 per cent of the total market share for foldable smartphones last year. This, however, is not expected to stay very long. 

Senior analyst Jene Park says, “This year, however, Samsung is facing more competition, with the release of Huawei’s critically lauded Mate X2, Xiaomi’s Mi Mix Fold, and announcements from Vivo, Oppo, and TCL hinting at 2021 launches.”

Highlighting the importance of industry support for the growth of the market, Shah added, “Smartphone makers, along with Google and the Android developer ecosystem will need to optimise software and applications for the new form-factors, and this is where we could see a lot of fragmentation early on.”

- Advertisement -

Most Popular Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

5G Chipset Market to Hit $92.09B by 2030

0
Reports indicate that the global next-gen wireless processor market is on track to surpass the $100 billion mark in the coming decade. The 5G chipset...
Gursaurabh Singh, Founder of Dhruv Vidyut

“Electrifying Rural Mobility- Converting Traditional Bicycles Into E-Bikes”

0
In a conversation with Nitisha Dubey from EFY, Gursaurabh Singh, the Founder of Dhruv Vidyut, discusses their conversion kit, which can transform any conventional...
Rahul Bollini, the Founder of Bollini Energy

“Formal Contracts For Long-Term Commitments Are Not Always Necessary”

0
Bollini Energy collaborates with various companies interested in understanding the complete value chain of Lithium-ion cells. They offer technical services that span from mining...

Buzz

FAME 3 Likely To Launch On Budget Day With INR 10k Cr Budget

0
People familiar with the discussions informed that the Faster Adoption & Manufacturing of Electric Vehicles (FAME) scheme is likely to include support for electric...

Dixon Technologies Plans Multi-Million Dollar Investment In India

0
The domestic electronics manufacturer has planned 1500-1800 crores INR investment, seeks to venture into new sectors.  Dixon Technologies, a producer of e-components, recently disclosed its...

Clean Mobility Establishes Pune Facility For Zbee

0
Clean Mobility Solution India Pvt. Ltd. establishes a manufacturing facility in Pune to localise and indigenously produce the 'Made in India' Zbee, a three-wheeled...

Important Sectors

Setting UP Plant For Motors That Deliver 97% Efficiency

0
What can four students competing in Formula Student race teams achieve? Why would these students, originally focused on developing an electric two-wheeler brand, pivot...

FAME 3 Likely To Launch On Budget Day With INR 10k Cr Budget

0
People familiar with the discussions informed that the Faster Adoption & Manufacturing of Electric Vehicles (FAME) scheme is likely to include support for electric...

Dixon Technologies Plans Multi-Million Dollar Investment In India

0
The domestic electronics manufacturer has planned 1500-1800 crores INR investment, seeks to venture into new sectors.  Dixon Technologies, a producer of e-components, recently disclosed its...

Clean Mobility Establishes Pune Facility For Zbee

0
Clean Mobility Solution India Pvt. Ltd. establishes a manufacturing facility in Pune to localise and indigenously produce the 'Made in India' Zbee, a three-wheeled...

VinFast Invests $2 Billion In India Expansion

0
Vietnamese electric carmaker VinFast expands across Asia, opening new factories in India and Indonesia, despite challenges in the competitive EV market and slowing global...

Manufacturing

Honeywell Creates AI Software For Gigafactory Efficiency

0
Honeywell anticipates that its new battery manufacturing excellence platform will lower the costs of cell production, speed up the ramp-up cycles, and decrease material...

Raju B Ketkale Named CEO Of Lumax Industries

0
He takes over from Vishnu Johri, who is stepping down for personal reasons. Lumax Industries Limited, a Tier-1 automotive lighting system and component manufacturer within...

Schaeffler And Symbio JV Innoplate Starts Fuel Cell Plate Production

0
Starting with an initial production capacity of 4 million bipolar plates, the Innoplate joint venture is projected to achieve an annual output of 50...

Tesla Pushes Suppliers To Source Parts Beyond Taiwan And China

0
China and Taiwan are major global producers of essential electronics parts and components. Tesla has requested that its suppliers move the production of components and...

Uno Minda Shines With Increased Content Per Car And EV Focus

0
Uno Minda, a key player in the auto parts industry, has demonstrated significant revenue growth, surpassing industry averages by more than double over the...