Foldable Smartphone Market Sees Growth in Shipments

On February 23, according to the latest report by TrendForce, the estimated shipments of foldable smartphones last year reached 15.9 million units, representing a 25% year-on-year increase.

As a result, the market share of foldable smartphones in the total shipments of all smartphones has risen to 1.4%.

TrendForce pointed out that the low adoption rate of foldable smartphones is mainly due to their high prices and durability issues.

Samsung, with a market share of 66.4%, maintains its top position in foldable screens, but it has decreased by over 17 percentage points compared to 2022. It is expected that Samsung’s market share in foldable screens will drop to 60.4% in 2024.

Huawei, with a market share of 11.9%, holds the second position, thanks to the strong demand for its foldable smartphones in the Chinese market. TrendForce predicts that Huawei may occupy close to 20% of the foldable smartphone market in 2024.

Xiaomi ranks third globally in terms of shipments of foldable smartphones, with a market share of 5.4%.

TrendForce predicts that foldable smartphone shipments will reach 17.7 million units in 2024, an 11% increase. It is expected that by 2025, foldable smartphones will capture a 2% market share.