A recent report indicates that foldable smartphones are rapidly gaining popularity, as the foldable shipments have increased by 309 percent per year (YoY) to 20 million units by 2021. About 90% of them were shipped in the second half of the year. Then came the Samsung Galaxy Z Fold 3 and the Galaxy Z Flip 3.
Notably, in 2021 these two will be the most popular foldable smartphones. Samsung shipped 4.6 million units of Galaxy Flip 3, accounting for more than half (52 percent) of the total market. It’s more than all the other foldables combined. The Galaxy Z Fold 3 shipped 2.5 million units.
Moreover, Oppo and Xiaomi also entered the foldable market in 2021. Previously they launched Find N in December for positive customer response. Many people like its design compared to Samsung’s Z fold series. Xiaomi’s Mi Mix fold also goes after the Korean brand’s Z fold series, but it did not do much in the market.
Last year, Huawei introduced a clamshell folding phone called the P50 Pocket. But despite all the new entrants, Samsung is still able to sell more of its 2020 models than ever before. It shows how much edge the Korean brand has in the foldable market. Omdia estimates it has an 88 percent market share.
As per the report, the global foldable smartphone shipments are expected to grow 55 percent to reach 14 million units by 2022. The market will achieve steady growth over the next five years. By 2026 the shipment size could reach 61 million units. It accounts for about 3.6% of the total smartphone market.