A decidedly interesting future is expected for folding smartphones, a market that sees Samsung definitely take the lion’s share but that is starting to be more competitive thanks to the entry of new players. Global foldable shipments will increase at a compound annual growth rate, more commonly known as the CAGR, of 53% between 2021 and 2024, according to research firm Canalys.
On the other hand, taking into consideration 2019 as a starting point, the year in which both Samsung and Huawei brought their first leaflets to the market, the CAGR will be 122%. The sector will continue to be driven by Samsung which shipped 8.9 million “Galaxy Z” last year. Despite the decidedly high prices, this sector has grown by 148% year on year against a shy 7% achieved by the global smartphone market.
According to Runar Bjørhovde, Research Analyst at Canalys, the key catalyst for this type of device was certainly the greater use of devices with a large screen during the pandemic, also dictated by the desire to constantly seek a better user experience as well as to the use of multimedia content: “folding smartphones, in this sense, are able to satisfy the needs and desires of consumers”.
Furthermore, leaflets represent a “vital differentiation” for manufacturers who intend to stimulate smartphone sales since they are particularly attractive to so-called “early adopters” and high-spending users.
Toby Zhu , analyst at Canalys, believes that Android-based smartphone makers are under severe pressure, especially in the premium segment where shipments of over $ 800 devices fell 18%, below 2019 levels, against a 68% increase recorded in the same period by Apple’s iOS. To continue to attract high-end customers, Google and Android device manufacturers must therefore increase their investments to offer differentiated hardware and better user experiences.
Thanks to Samsung, the entire supply chain for foldable devices has developed rapidly in recent years, and although there are a growing number of suppliers of foldable displays, hinges and other components, the device suppliers are also developing solutions and designs that, in addition to a better user experience, they also manage to consistently bring prices down prices.
This is the thought of Amber Liu, an analyst at Canalys according to which, in addition to the design of hardware, the real battlefield for manufacturers of folding devices is also the development of software that requires substantial investments for the creation of optimized user interfaces. Precisely in this sense, Google has begun to develop Android 12L which offers new features for this type of device.
Leaflets, therefore, are destined to represent a vital part of the high-end product strategy for many brands. According to the Canalys agency, this year there will be many new foldable launches that will gradually decrease their thickness, weight and above all the price, key factors for the adoption by the mass market.