According to Counterpoint Research, sales of foldable smartphones are estimated to reach around 16 million units in 2023. Although this represents an increase from previous years, it still accounts for only 1.3% of overall smartphone sales, which amounted to 1.2 billion units.
Analyst Ben Wood from CCS Insight commented that almost every smartphone manufacturer, except for Apple, is targeting the foldable phone market in hopes of tapping into a new and high-growth market. However, the reality is that the market for foldable phones is still relatively small and is becoming increasingly crowded with numerous players vying for a share of this niche market.
The small size of the foldable phone market can be attributed to several factors, including pricing, concerns about durability, and unclear benefits of usage. Currently, Samsung remains the leader in the foldable phone market with a market share of 73% in the third quarter of 2023.
TLDR: Counterpoint Research predicts that around 16 million foldable smartphones will be sold in 2023, representing only 1.3% of total smartphone sales. While many smartphone manufacturers are targeting this market, the reality is that it remains small and highly competitive. Samsung currently dominates the foldable phone market with a 73% market share.
Leave a Comment