With the latest Galaxy Z Fold series smartphone, Samsung has ruled the foldable smartphone market, but as per the latest news company is facing tuff competition from rivals as the market for foldable phones flashes in the upcoming years.
IDC’s latest report indicates that the foldable smartphone market will show a wholesome growth rate in the upcoming three years.
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In the year 2021, shipments of foldable smartphones reached 7.1 million units up from a normal number of 1.7 million units in 2020. And this growth was largely caused by the latest Samsung Galaxy Z Flip 3 popularity which can be retained as the first successful mass-market foldable smartphone.
According to the latest report, shared by IDC, the foldable smartphone space will continue on a high growth trajectory for the next three years, with shipments reaching 27.6 million units by 2025. This rephrases into a compound annual growth rate (CAGR) of 69.9% in the five-year period from 2020 to 2025. More importantly, 27.6 million units of foldable phones are expected to be shipped in 2025, with a total market value of $29 billion.
Furthermore, with the rapid development of the foldable space, IDC feels that it is still too early to choose the winner between these two form factors. Future improvements in the fold form factor and a reduction in production costs are likely to lead to the $1,000 Galaxy Z Fold 4 in the coming years.
More competitor brands like Oppo, Xiaomi, and Vivo are likely to cut the price of foldable phones across the board, eventually leading to the Samsung Fold series as well. Brands are also interested in learning how the Foldable Form Factor attracts buyers who want to double as a smartphone and tablet.
Via – Sammy Fans
