Market research firm TrendForce has released sales figures for foldable phones in 2023. According to the report, 15.9 million foldable smartphones were sold in 2023, which indicates a 25% increase in sales compared to the previous year. However, these devices have still not achieved widespread popularity. The market share of foldable phones has risen to 1.4%.
According to TrendForce, despite the increase in the use of foldable phones, the number of people choosing these devices remains limited. The company predicts that growth will slow down next year and states that the reasons for this are durability concerns and high prices.
According to the market research firm's forecast, 17 million foldable phones will be sold this year, representing an 11% increase. However, it is estimated that the growth rate will decrease and the market share will rise to 1.5%. Long-term forecasts expect the market share to reach 2% in 2025.
Samsung stands out among the best-selling brands in the foldable phone segment. Maintaining its leading position, Samsung holds a 66.4% market share this year with its Z Fold5 and Z Flip5 models. However, it is noted that the company has experienced a 17% decline in market share and this trend could continue down to 60% in 2024.
Samsung is followed by Huawei with an 11.9% market share. According to TrendForce's projections, Huawei is expected to increase its market share to 20% in 2024. Xiaomi ranks third with a 5.3% market share in 2023. The remaining 16.4% is comprised of other brands.
News Source: 12punto
