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Sunday, August 8, 2021

Market for foldable phones to reach 4 million units this year

A new report from International Data Corporation (IDC) anticipates the worldwide market for foldable mobile phones reaching a total of 4 million devices this year. That’s more than double the 1.9 million units shipped in 2020.

The total number of annual shipments worldwide is expected to reach 13.9 million units by 2025, which equates to a compound average growth rate of 48.1% for the five-year period.

Anthony Scarsella, research manager for IDC's Worldwide Quarterly Mobile Phone Tracker, said “The overall adoption of foldable devices continues to slowly grow despite the initial setback we witnessed with the first batch of foldables unveiled back in 2019. Foldable models continue to improve in terms of design, durability, and functionality. Although high ASPs will be a deterrent in the near term, the gradual decline in prices as more models come to market will be a key driver of growth for the entire category.”

Models released last year include the Samsung Galaxy Z Fold2 and the smaller Samsung Galaxy Z Flip, alongside competition from Huawei’s Mate Xs and Motorola’s Razr 2020. IDC’s forecasts don’t anticipate Apple producing a foldable device within the next few years.
Author: The Fonecast
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