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Predicted Growth Drivers Indicate Prospective Medium to Long-term Expansion in Foldable Market, Reveals Recent Report

According to TrendForce analysts, the foldable smartphone market is expected to see significant growth in the coming years. Currently, foldables account for a small portion of total smartphone shipments, with an estimated 18.3 million units to be sold worldwide this year, making up 1.6 percent of the market.

However, by 2027, the foldable market share is predicted to increase to around 5 percent, representing approximately 70 million unit sales. This indicates a potential for growth in the segment, although still relatively small compared to traditional smartphones.

The future of the foldable market largely depends on Apple’s entry into the segment. The possibility of an iPhone Fold remains uncertain, but if Apple decides to release a foldable device, it could significantly impact the market and drive its expansion.

Currently, Samsung dominates the foldable market, accounting for 68 percent of the projected foldable sales in 2023. However, this is a decline from its 82 percent market share in the previous year. Competing brands like Huawei, Oppo, and Xiaomi are considered the driving forces behind the segment’s growth. As foldables become more affordable, these brands are expected to improve their market share.

Samsung, aware of the competition, is rumored to be working on a budget-friendly foldable device to counter the rise of Chinese brands. The release of a “Fan Edition” foldable could help Samsung maintain its position in the market.

Huawei currently holds the second position in the foldable market, with a projected shipment count of 2.5 million units and a 14 percent market share. Oppo is expected to secure the third spot, narrowly surpassing Xiaomi with a 4 percent share.

Other brands like Motorola, Google, and OnePlus are not mentioned in the report, suggesting their impact on the foldable market may be limited.

In summary, the foldable smartphone market is predicted to see steady growth in the coming years, driven by the entry of new players and the potential release of a foldable iPhone by Apple. Samsung currently leads the market but faces competition from Chinese brands aiming to capture a larger market share.

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