The analyst company IDC has forecasted that foldable smartphones will see 21.4 million units shipped this year, a more than 50% increase on the 14.2 million units that shipped last year. When it looked at the years 2022 to 2027, it said it expected a compound annual growth rate of 27.6%. This would put the units shipped in 2027 at 48.1 million units.
The company said that the foldable segment is doing quite well against the backdrop of tough economic conditions. Unfortunately for people on lower budgets, IDC said the average selling prices of foldables are only dropping slightly and remain in the premium price segments in all regional markets.
While the prices haven’t moved much, the phone you receive for the money is better. IDC says that the durability and build as well as the overall user experience are better across all vendors and in the future, even more features are expected to be added.
Commenting on the data, Anthony Scarsella, research manager, Mobile Phones at IDC, said:
“The foldable phone market finished slightly higher than previously forecast as consumers start to embrace the new form factor. A 10% decline in ASP helped the market grow 75.5% in 2022, as foldable devices became more affordable in numerous markets. With new vendors and models joining the race this year, we expect the foldable market to be the one bright spot in 2023 with 50.5% growth, while the total smartphone market contracts 1.1%.”
While the foldable market is seeing good growth, by 2027, foldables are still only expected to account for 3.5% of the market compared to today’s 1.2%. As always, it’s important to remember that these are just forecasts and the further out you get in your predictions, the less likely they are to be correct.
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