The market research company IDC estimates that by the end of 2022, about 13.5 million foldable phones will be sold this year, and this is a 66.6% increase compared to sales of about 8.1 million devices last year. However, she does not think that these devices will become a real hit even in the next five years – and folding phones will continue to remain a niche device.
According to the company, the rate of growth will continue to be double-digit until 2026, but in total it expects that the amount of sales in that year will amount to about 41.5 million folding phones, only about 2.8% of the smartphone market, and this compared to only about 1.1% as of 2022.
The report states that Samsung’s new foldables, the Galaxy Z Fold4 and Z Flip4, are the leading devices this year as Samsung continues to set the standard for the entire foldable market.
The price continues to be the obstacle that stands between the folding phones and real success, and this despite the fact that a price of $999 according to IDC is currently defined as more affordable due to the general increase in prices resulting from rising inflation.
“While it may be tempting for vendors to enter the market with lower selling prices to create an initial push in sales, we believe this is a bad move – especially not at the expense of quality and user experience. Foldables should remain a niche and premium flagship device,” the report said.