Reported 12 months ago
Since its debut in 2019, the global first foldable phone has now entered the mass production stage, leading to increased maturity in technology and a more affordable pricing in 2024. Brands like Huawei, Honor, and Samsung are set to release budget-friendly foldable phone models to target mid-range consumers outside the premium segment. Research by TrendForce indicates that foldable phone shipments reached around 18.3 million units in 2023, accounting for 1.6% of the smartphone market, with an estimated 25.2 million units to be shipped in 2024, expanding its market share to 2.2%. The move towards budget foldable phones is driven by Huawei, Honor, and Xiaomi, and even Samsung is rumored to join the competition soon, potentially further expanding foldable phone penetration rates. These budget models, priced between $600 to $700, are made possible by improved yields and mass production of key components like flexible panels, hinges, and bearings, leading to a decrease in production costs and likely impacting the budget phone market, intensifying competition among major players like Samsung, OPPO, Apple, and Huawei.
Source: YAHOO