Top

Foldable Smartphone Shipments to Grow 10x by 2023

  • In 2021, foldable smartphone market is expected to grow 3X compared to 2020.
  • Samsung expected to dominate with 75% share till 2023.
  • Apple could enter foldable smartphone market in 2023.

Beijing, Boston, Toronto, London, New Delhi, Hong Kong, Taipei, Seoul – August 5, 2021

Samsung will unveil its next-generation foldable smartphones at a virtual event on August 11. Although the market for foldables is still niche, we expect 2021 shipments of Samsung foldable smartphones to grow significantly, driven by improved design and hardware, and competitive pricing.

According to Counterpoint Research’s latest Foldable Smartphone Shipment Forecast, the shipments for 2021 will remain in single digit, at around 9 million units. However, it will still be a 3x growth over 2020, with Samsung dominating with over 88% market share. By 2023, we expect a 10x growth in foldable smartphone shipments. Even with more OEMs entering the foldable smartphone space, we expect Samsung to continue dominating with nearly 75% market share. If Apple is on track to release its foldable smartphone by 2023, it will not only be an inflection point in taking foldables mainstream but also improve the component yield and scale for the entire supply chain.

counterpoint global foldable smartphone growth expectations 2023

Source – Counterpoint Research Foldable Smartphone Shipment Forecast, July 2021

The upcoming Samsung Galaxy foldables are highly anticipated smartphones as they are expected to bring major improvements over their predecessors. “With a significant price drop, improved design, and appearance, Samsung is likely to target younger customers with the new foldable Flip smartphone. The new Galaxy Z models will get S Pen support too, which can help absorb existing Note users,” said Senior Analyst Jene Park, who leads the foldables research at Counterpoint.

The premium smartphone market in China will be particularly interesting for Samsung. “Despite having a negligible market share, Samsung can secure Huawei’s vacant spot, and its success can contribute towards total shipment and sales volumes for its new foldables,” Park added.

Even as Apple and Samsung dominate the premium segment of the US smartphone market, the foldables remain very expensive, even on a monthly payment plan. “More affordable Samsung foldable smartphones may be attractive to some users, especially those who have previously purchased ‘plus’- or ‘ultra’-sized S-series or Note models. If the Flip model can be sold at a similar price point as the ‘ultra’, we might see more adoption in the future,” said Senior Analyst Maurice Klaehne, who tracks the US market.

Samsung’s President and Head of Mobile Communications Business TM Roh has already announced that the new Galaxy Z-series will focus on “epic cameras and vivid, immersive viewing experiences to long-lasting batteries and strong security”. He further confirmed that the upcoming Z-series foldable smartphones would include S Pen support, bringing new display innovation. Samsung is looking to appeal to business users and prosumers, and it makes sense as the larger canvas to interact with makes it a great productivity tool.

Background:

Counterpoint Technology Market Research is a global research firm specializing in products in the TMT (technology, media and telecom) industry. It services major technology and financial firms with a mix of monthly reports, customized projects and detailed analyses of the mobile and technology markets. Its key analysts are seasoned experts in the high-tech industry

Analyst Contacts:

Ritesh Bendre

Jene Park

Maurice Klaehne

Follow Counterpoint Research
  

Related Posts

Counterpoint research is a young and fast growing research firm covering analysis of the tech industry. Coverage areas are connected devices, digital consumer goods, software & applications and other adjacent topics. We provide syndicated research reports as well as tailored. Our seminars and workshops for companies and institutions are popular and available on demand. Consulting and customized work on the above topics is provided for high precision projects.

Term of Use and Privacy Policy

Counterpoint Technology Market Research Limited

Registration

In order to access Counterpoint Technology Market Research Limited (Company or We hereafter) Web sites, you may be asked to complete a registration form. You are required to provide contact information which is used to enhance the user experience and determine whether you are a paid subscriber or not.
Personal Information When you register on we ask you for personal information. We use this information to provide you with the best advice and highest-quality service as well as with offers that we think are relevant to you. We may also contact you regarding a Web site problem or other customer service-related issues. We do not sell, share or rent personal information about you collected on Company Web sites.

How to unsubscribe and Termination

You may request to terminate your account or unsubscribe to any email subscriptions or mailing lists at any time. In accessing and using this Website, User agrees to comply with all applicable laws and agrees not to take any action that would compromise the security or viability of this Website. The Company may terminate User’s access to this Website at any time for any reason. The terms hereunder regarding Accuracy of Information and Third Party Rights shall survive termination.

Website Content and Copyright

This Website is the property of Counterpoint and is protected by international copyright law and conventions. We grant users the right to access and use the Website, so long as such use is for internal information purposes, and User does not alter, copy, disseminate, redistribute or republish any content or feature of this Website. User acknowledges that access to and use of this Website is subject to these TERMS OF USE and any expanded access or use must be approved in writing by the Company.
– Passwords are for user’s individual use
– Passwords may not be shared with others
– Users may not store documents in shared folders.
– Users may not redistribute documents to non-users unless otherwise stated in their contract terms.

Changes or Updates to the Website

The Company reserves the right to change, update or discontinue any aspect of this Website at any time without notice. Your continued use of the Website after any such change constitutes your agreement to these TERMS OF USE, as modified.
Accuracy of Information: While the information contained on this Website has been obtained from sources believed to be reliable, We disclaims all warranties as to the accuracy, completeness or adequacy of such information. User assumes sole responsibility for the use it makes of this Website to achieve his/her intended results.

Third Party Links: This Website may contain links to other third party websites, which are provided as additional resources for the convenience of Users. We do not endorse, sponsor or accept any responsibility for these third party websites, User agrees to direct any concerns relating to these third party websites to the relevant website administrator.

Cookies and Tracking

We may monitor how you use our Web sites. It is used solely for purposes of enabling us to provide you with a personalized Web site experience.
This data may also be used in the aggregate, to identify appropriate product offerings and subscription plans.
Cookies may be set in order to identify you and determine your access privileges. Cookies are simply identifiers. You have the ability to delete cookie files from your hard disk drive.