Foldable smartphone shipments to grow 73 percent to 16 million units in 2022 | ICT Business | TechBuzz

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Foldable smartphone shipments grow 73 percent to 16 million units in 2022.

The global foldable smartphone market will grow 73 percent this year from 9 million units last year to 16 million units, according to Counterpoint Research’s latest foldable smartphone forecast. Strong growth defies current economic headwinds as the premium market shows resilience and steady demand. Counterpoint predicts strong growth over the next year as well, with foldable devices expected to grow to 26 million units in 2023.

During the first half of 2022, Samsung had a dominant market share of foldable devices, accounting for 62 percent of the market according to Counterpoint’s Foldable Smartphone Tracker, June 2022; Huawei and OPPO took a distant second and third place.

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“Samsung has been the market leader since the beginning and we think its dominance will continue for some time. Huawei, OPPO, Xiaomi and vivo are presenting new foldable devices, but they are mostly limited to the Chinese market. For now, Motorola is perhaps the only competitor in markets such as the USA”, points out senior analyst Jene Park.

“We expect the new combination of the Galaxy Fold 4 and Flip 4 to continue Samsung’s momentum in the space and sell close to 9 million units this year, helping the share of foldable devices jump to 80 percent in H2 2022,” Park explained.

“Foldable devices not only bring a fresh design to smartphones – traditionally dominated by bar form factors – but also more screen space. This is becoming more and more important with the increasing number of smartphone usage cases, especially in media, entertainment and business,” concludes Park.

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