Samsung is the biggest name in the foldable smartphone market and the company is now continuously working on it. In such a situation, in the coming time, Samsung seems to be moving towards a bigger target.
Samsung is targeting the foldable smartphone market
The shipments of foldable smartphones will remain in single digits in 2021, which will be around 9 million units, which is three times more than in 2020. Samsung dominates with 88 percent market share. By 2023, Counterpoint Research expects foldable smartphone shipments to grow 10x. Samsung will present its next-generation foldable smartphones in a virtual event on August 11.
As per the report, although the market for foldables is still niche, we expect the 2021 shipments of Samsung foldable smartphones to increase significantly, which are equipped with better design and hardware and affordable pricing. Even with more original equipment manufacturers (OEMs) entering the foldable smartphone space, Samsung is likely to dominate with around 75 per cent market share.
If Apple is to bring its foldable smartphone soon by 2023, it will be an inflection point in not only bringing foldables into the mainstream, but also improving the supply chain and scale for the entire supply chain.
With a significant drop in price, improved design and appearance, Samsung could target younger customers with the new foldable Flip smartphone, said analyst Jane Park, Sr. The new Galaxy Z models will also get S Pen support, which can help existing Note users.
The premium smartphone market in China will be particularly interesting for Samsung. Despite having a low market share, Samsung can secure Huawei’s free space, Park said, and its success could contribute to overall shipments and sales volume for its new foldable.
Even as Apple and Samsung dominate the premium segment of the US smartphone market, foldables are very expensive even on monthly payment plans. More affordable Samsung foldable smartphones may be attractive to some users, especially those who have previously purchased ‘plus’ or ‘ultra’ sized S-series or Note models, said senior analyst Maurice Klehne. If the Flip model can be sold at the same price point as the ‘Ultra’, then we may see more adoption in the future, he added.
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