Foldable Smartphones Market To Grow 73% This Year, Samsung To Remain Dominant: Report

Samsung earlier this month launched its newest Galaxy Z Fold 4 and Galaxy Z Flip 4 foldable smartphones in India and the world over. After Samsung, Xiaomi unveiled its Combine Fold 2 foldable smartphone, and Motorola lifted the wraps off its 2022 Moto Razr flip cellphone. With many new choices available in the market, a report from Counterpoint Analysis has stated that the foldable smartphone market might develop 75 % this 12 months.

In accordance with the report, the foldable smartphones phase is about to see 16 million shipments this 12 months, rising 75 % from earlier 12 months’s 9 million shipments. The report additionally stated that throughout the first half, Samsung led the foldable class with its Galaxy Z Fold smartphone, adopted by Huawei and Oppo within the world markets. Samsung gained a 62 % market share within the phase, and is predicted to leap to 80 % this 12 months, with the brand new Galaxy Z Fold 4 and Flip 4 gadgets now within the markets globally.

“Foldables not solely convey contemporary design to smartphones – historically dominated by bar-type type components – but in addition extra display actual property. That is rising in significance with smartphone use instances increasing, particularly throughout media, leisure and work,” a Senior Analyst from Counterpoint Analysis stated within the report.

Samsung’s dominance within the foldable phase additionally comes resulting from a scarcity of competitors. The Samsung Galaxy Z Fold 4 and Galaxy Z Flip 4 are the one gadgets which can be offered in world markets. Whereas manufacturers like Vivo, Xiaomi, Oppo, Huawei, and extra have foldable smartphones, their gross sales are principally restricted to the Chinese language markets. Motorola’s Moto Razr 2022 has additionally been launched in China solely presently, however in its earlier generations, the Moto Razr didn’t maintain so long as the Samsung Galaxy Z Flip within the world markets.

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