Despite Inflation, Foldable Smartphones are Predicted to Sell Even Better Until 2023

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Cindy Mutia Annur 11/08/2022 19:10 WIB

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Counterpoint Research predicts that global shipments of foldable smartphones will experience significant growth until 2023, driven by the continued resilience of the high-end economic segment.

Global Shipments of Foldable Smartphones (2021-2023*)

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Global Shipments of Foldable Smartphones (2021-2023*)

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The International Monetary Fund (IMF) projects that global inflation will remain high until 2023.

Nevertheless, the foldable smartphone market is predicted to continue experiencing rapid growth due to the sustained economic resilience of the high-income class.

"The strong growth (in foldable smartphone shipments) defies current economic challenges, as the premium market demonstrates resilience and stable demand," explained research firm Counterpoint in a press release on Wednesday (August 10, 2022).

According to Counterpoint, global shipments of foldable smartphones reached 9 million units in 2021. This number is projected to grow by 73% to 16 million units in 2022, and further increase to 26 million units in 2023.

In the first half of 2022, Samsung dominated the global foldable smartphone market share with 62%. The release of its latest products, the Samsung Galaxy Fold 4 and Flip 4, is expected to boost its market share to 80% by the end of 2022.

Following Samsung is Huawei, with a 16% market share of foldable smartphones in the first half of 2022. Oppo's market share in this product category was 3%, while other manufacturers accounted for 18%.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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