Chinese handset vendors are promoting the adoption of foldable models, and many of them have launched models priced below CNY10,000 (US$1,463) to ramp up sales, according to industry sources.
Under the interference of the epidemic, war, and inflation, end-market consumer demand has been weak in 2022, causing overall handset shipments to decline in the year, said the sources.
However, the sources estimated that the performance of folding smartphones was relatively robust, with overall shipments scaling up to 14 million units.
In 2023, some market sources have estimated that global foldable smartphone shipments will likely reach 23 million units.
According to the sources, Samsung Electronics currently accounts for the largest share of the global foldable smartphones market. However, Huawei ranks first in China, thanks to the robust sales of its signature visions of its P50 Pocket and Mate X2, launched in the fourth quarter of 2022.
Other Chinese brands, including Oppo and Xiaomi, reportedly ramped up their foldable smartphone shipments exponentially in 2022. Oppo launched three foldable models – Find N, Find N2, and Find N2 Flip – contributing to its growth in China's foldable smartphone segment. Xiaomi also made significant gains by launching its Mix Fold 2.
The launch of the sub-CNY10,000 foldable models by Chinese vendors will help improve the popularity of the foldable phones in China, while eroding the dominant market share currently enjoyed by Samsung, said the sources.
However, the supply chain makers do not expect Apple to venture into the foldable smartphone segment until after 2026. The US vendor is taking weight on the supply of reliable components such as hinges and cover glasses, said the sources.
Samsung Display is currently the leading supplier of foldable panels, followed by BOE Technology.
Article translated by Steve Shen
