The foldable form factor is rapidly gaining popularity and is expected to reach annual sales of over 100 million units in the next few years, according to TM Roh, President & Head of Mobile Business at Samsung Electronics. In a recent conversation with indianexpress.com in Seoul, Roh expressed his confidence in the foldable segment’s growth, projecting global sales of more than 30 million units this year alone, with improvements in the affordability of foldable smartphones playing a crucial role.
As Samsung recently launched its latest Galaxy Z Flip5 and Fold5 foldable smartphones, Roh explained why he believes the foldable form factor is on its way to becoming mainstream. He cited examples of third-party applications optimizing their user experiences for foldable devices, indicating an increasing interest and demand for these innovative smartphones worldwide.
The research firm Canalys supports Roh’s optimism, forecasting a 34% Compound Annual Growth Rate (CAGR) for the foldable segment by 2025, resulting in 35 million units shipped. Despite comprising just 1% of the Q1 2023 shipments, foldables saw a significant 68% year-on-year growth and were expected to grow by 25% in 2023, as more players entered the foldable smartphone market. Samsung currently holds a dominating 68% share in this growing segment.
TM Roh’s remarks come as a testimony to Samsung’s commitment to pushing the boundaries of smartphone technology and design. The company’s continuous efforts to improve and innovate in the foldable category have been pivotal in popularizing the concept among consumers and encouraging other manufacturers to invest in the foldable market.
The rising popularity of foldables can be attributed to several factors, including their unique form factor, improved durability, and enhanced user experience. Foldable smartphones offer users the advantage of a larger screen size without compromising on portability. The ability to fold and unfold the devices makes them versatile for various tasks, such as multitasking, watching videos, or reading.
Additionally, manufacturers like Samsung have been working closely with developers to optimize apps for the foldable form factor, ensuring a seamless experience for users. As the foldable ecosystem expands, third-party app developers are increasingly incorporating foldable-friendly features into their applications, further driving the adoption of these devices.
Samsung’s latest Galaxy Z Flip5 and Fold5 models have received positive reviews from users and critics alike. The affordable pricing of these devices, coupled with the advancements in display technology and hinge mechanisms, has made foldables more accessible to a broader audience.
Looking ahead, Samsung’s focus on improving affordability and introducing new foldable models at various price points is expected to contribute significantly to the segment’s growth. As more consumers experience the benefits of foldable smartphones, the demand for these devices is expected to surge, gradually making foldables a mainstream choice in the premium smartphone segment.
TM Roh’s vision of reaching the 100 million annual sales milestone for foldables is not only an ambitious goal for Samsung but also a testament to the company’s confidence in the potential of this emerging technology. As foldable devices become more prevalent and offer increasingly compelling features, they are set to revolutionize the smartphone industry and redefine the way users interact with their devices.
