Foldable phones slow to gain tractions

2023 foldable phone shipments grew 25% y-o-y to 15.9 million units, accounting for 1.4% of the smartphone market, says TrendForce.

In 2024, shipments are expected to rise to about 17.7 million units, growing by 11% and slightly increasing the market share to 1.5%.

The slowdown in the growth of foldable phones is attributed to two main factors: Firstly, consumer retention is low due to frequent maintenance issues faced by first-time foldable phone users, leading to a lack of confidence in the product.

As a result, users may opt for high-end flagship smartphones when considering replacements.

Secondly, the current price points of foldable phones have yet to reach the sweet spot for consumers, making it challenging to meet sales targets based solely on pricing.

Samsung remains the market leader despite its market share sliding from 80% in 2022 to under 70% in 2023, while Huawei’s shipments have risen to 12%.