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Report: foldable smartphone shipments will exceed 30 million phones by 2024


Recent reports revealed that foldable smartphone shipments will exceed 30 million in 2024, while foldable smartphone shipments reached 8.9 million during the past year 2021, as Samsung takes the lead, and forecasts show a compound annual growth rate (CAGR) of 53% increase in Foldable smartphone shipments between 2021 and 2024.
According to Canalys' latest forecast, this smartphone segment is expected to grow at a compound annual growth rate of 122% between 2019 (the year in which the first foldable products were launched) and 2024, and the overall smartphone market grew by only 7% while The foldable segment grew, growing 148 percent year-over-year in 2021, despite carrying higher price tags.
Toby Chu, another analyst at Canalys, said: “Folding formalities provide a vital differentiation for sellers to drive smartphone sales, and Android sellers are under great pressure in the premium segment, with shipments of smartphones over $800 worth down 18% from the 2019 level. While iOS shipments grew 68% during the same time. Google and major Android device vendors need to double their investments in different devices and modern user experiences to continue to attract premium customers.”
Another research analyst at Canalys, Amber Liu, said: “Fortunately, the supply chain ecosystem for foldable devices has developed rapidly over the past few years, thanks to Samsung. Hardware is also highlighting innovative engineering solutions and product designs for a better user experience while constantly pushing prices.