The global smartphone industry is focusing more on the premium segment, with foldable smartphones expected to grow considerably in a couple of years, according to a research report.
Earlier this year, global tech market research firm Counterpoint released its report, “Foldable Smartphone Set to Take on New Heights,” shedding light on the notable rise of foldable smartphones in the high-end market.
Counterpoint data show that despite global smartphone sales declining in 2022 by 12 percent year-on-year, the premium smartphone market still grew by 1 percent year-on-year and accounted for over 21 percent of total sales. As for foldable smartphones, they have surged in popularity within a short span, leaping from a tiny 0.3 percent market share in 2019 to 5 percent in 2022. By 2025, shipments of foldable smartphones worldwide are expected to reach 55 million units.
Though Samsung is considered the pioneer, Chinese OEMs also entered the foldable smartphone market with their own innovations. A testament to this is the Chinese tech giant OPPO. Their foldable devices, particularly the OPPO Find N2 Flip, demonstrate a remarkable amalgamation of both hardware and software advancements, with standout features like the Flexion Hinge and FlexForm Mode. Furthermore, the phone’s 44W SUPERVOOC charger is capable of charging its 4,300mAh battery to 50 percent in just 23 minutes.
OPPO also recently launched the Find N3 Flip in the Chinese market and will soon be launching the handset in global markets. The company says it “remains committed to delivering exceptional user experiences and pushing the boundaries of what foldable smartphones can achieve.”
By 2022, China led the global foldable smartphone market with a 26 percent share, beating market giants like South Korea, North America, and Europe. All four markets account for more than 80 percent of the global foldable smartphone market.