NEWARK, Del, Nov. 07, 2022 (GLOBE NEWSWIRE) -- The global foldable phone market was worth US$ 6.8 Bn as of the year 2021 and is expected to witness a dynamic CAGR of 25.2% between 2021 and 2031.
The foldable phone, as the name suggests, folds inward and/or outward. On transmission of power through OLED’s and e-paper’s organic compounds, these phones do radiate light of their own. This, in turn, renders foldable phones more flexible and thinner.
Certain devices do fold out on vertical plane for forming a wider display (like a tablet), but stay usable in a folded, smaller state. This display is capable of either rolling around to smartphone’s back on getting folded. The phone could even be used as booklet-like structure where broader, folded display is placed on inner surface. Moreover, display on ‘cover’ lets the users make use of smartphone without necessity to open it.
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The millennials are more into laying their hands on foldable phones. They are actually on the lookout of increasing the spending power for enhancing the living standards and workspace. Also, growing penetration of digital technologies in the wake of urbanization is accelerating the demand for advanced and aesthetically appealing products serving the daily requirement of customers. Future Market Insights has walked through these facts with insights in its latest market study entitled ‘Foldable Phone Market’.
Key Takeaways from Foldable Phone Market
- North America dominates the foldable phone market with the US holding more than 70% of the overall market share. This could be credited to various smartphone companies being present over here. Plus, 5G connectivity is being introduced, which is opening doors for new opportunities for the participants in smartphone vertical for launching devices extending support to 5G.
- Coming to the Asia-Pacific, India is a burgeoning market for smartphones. Samsung Group, since the year 2018, has the world’s biggest mobile factory stationed in Noida. This was a step towards ‘Make for the World’ initiative, wherein it aimed to export the mobile handsets overseas.
Competitive Phones
- Samsung, in the year 2020, announced launching Galaxy Z Fold 2 foldable smartphone, that too, at introductory price – US$ 1,999. This phone does boast of combination of bold design and exciting features, so as to enhance the ‘mobile experience’ for users.
- Huawei Mate X2 comes across as an Android-based high-end foldable smartphone manufactured by Huawei. It was brought forth in February 2021, and is an apt successor to Mate X and Mate Xs.
- Samsung’s very first foldable phone does feature 2 screens: a smaller 4.5” 840X1960 AMOLED to be used when phone is not into operation and a large 7.3” 1532X2152 (361 PPI) foldable AMOLED folding inside. It is being marketed as ‘Samsung Infinity Flex Display’.
- Samsung Group, in the year 2021, tabled 2 novel smartphones – Galaxy Z Flip3 5G and Galaxy Z Fold3 5G at lower prices. They could be easily carried in bags or pockets on folding and served as ‘tablet’ on being unfolded.
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“The fact that foldable phones enable combining smartphone’s portability with tablets’ large screens, the market for foldable phones is bound to grow on a grand note in the near future”, says an analyst from Future Market Insights.
What is the Report up to?
- Future Market Insights offers an exclusive perspective and various real-time insights on the foldable phone market in its latest study, presenting historical demand assessment of 2016 – 2020 and projections for 2021 – 2031.
- The research study is based on display size (under 6 inches, 6-7 inches, 7-8 inches, and 8 inches & above), by RAM capacity (8 GB, 12 GB, and 16 GB), by storage (256 GB and 512 GB), by price range (US$ 500 – US$ 1,500, US$ 1,500 – US$ 2,000, and US$ 2,000 & above), and by sales channel (hypermarkets/supermarkets, specialty stores, multi-brand stores, independent small stores, online retailers, and likewise).
Foldable phone is known for its flexible display that lets the phone bend, fold, and twist. These flexible display technologies do contain e-paper with OLED (Organic Light Emitting Diode) displays. These factors are bound to catalyze the foldable phone market in the forecast period.
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Market by Category
By Display Size:
- Under 6 inches
- 6-7 Inches
- 7-8 Inches
- 8 Inches & Above
By RAM Capacity:
- 8 GB
- 12 GB
- 16 GB
By Storage:
- 256 GB
- 512 GB
By Price Range:
- US$ 500- US$ 1,500
- US$ 1,500- US$ 2,000
- US$ 2,000 & Above
By Sales Channel:
- Hypermarkets/ Supermarkets
- Specialty Stores
- Multi-brand Stores
- Independent Small Stores
- Online Retailers
- Others
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Product Evolution Analysis
1.5. FMI Analysis and Recommendations
2. Market Overview
2.1. Market Taxonomy
2.2. Market Definition
3. Emerging Technology Trends in Foldable Displays
3.1. Will Foldable Displays Have Realistic Applications In The Future?
3.2. 5G Technology Increase The Demand For Foldable Smartphone
3.3. Innovative Technology Partnerships Leading The Development Of Foldable Display Devices
3.4. Growing Popularity of OLED Foldable Displays
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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