Global foldable smartphone market to grow 73% this year to 16 mln units – research
Global foldable smartphone market to grow 73% this year to 16 mln units – research

Global foldable smartphone market to grow 73% this year to 16 mln units – research

 

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The global foldable smartphone market will grow 73% this year from 9 million units last year to 16 million units, estimated by Counterpoint Research. The strong growth defies current economic headwinds as the premium market shows resilience and steady demand. Counterpoint forecasts strong growth through next year too, with foldables expected to grow to 26 million units in 2023, it said.

During first half of 2022, Samsung enjoyed dominant market share of foldables, accounting for 62% of the market total, while Huawei and OPPO came in a distant second and third.

“Samsung has led the market since the beginning, and we think its dominance will continue for some time. 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,” it said.

“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%.”

global foldable phones