It still feels like foldables are a brand new technology, but it’s been four years since Samsung first launched its Galaxy Fold that pushed the form factor into the mainstream. Now, according to a new report, foldable smartphones are expected to ship over 20 million units in 2023, with even bigger numbers in the future.
The IDC reports that, in 2022, foldable smartphones made up just over 1% of overall smartphone shipments. That’s a small slice of the pie, but still over 14 million units in total. In 2023, the firm expects foldables to reach 21.4 million units shipped – 50% growth of over seven million units year over year.
Further, the IDC forecasts that foldables will continue to grow over the coming years, with shipments in 2027 reaching 48.1 million units. That’s still a mere 3.5% of the overall smartphone market, though.
Growth of foldable form factors doesn’t come as a huge surprise, as the technology is certainly spreading rapidly. In 2021 and 2022, Samsung was virtually the only player in the game, but other brands have since stepped up to the plate. Oppo released the Find N2 Flip, its take on the Galaxy Z Flip line, earlier this year to high praise. Honor has also launched its Galaxy Fold-like Magic Vs globally last month, and even smaller brands such as Tecno have jumped in on foldable tech. Google is also preparing a foldable device.
Related: Review: Oppo Find N2 Flip beats the Galaxy Z Flip 4 in key areas, but doesn’t take the crown
As competition drives progress forward, and drives prices down, it’s clear foldables will have an impact even as the overall smartphone market struggles. Anthony Scarsella, a research manager on mobile phones for IDC, says:
The foldable phone market finished slightly higher than previously forecast as consumers start to embrace the new form factor. A 10% decline in ASP helped the market grow 75.5% in 2022, as foldable devices became more affordable in numerous markets. With new vendors and models joining the race this year, we expect the foldable market to be the one bright spot in 2023 with 50.5% growth, while the total smartphone market contracts 1.1%.
More on Foldables:
- Galaxy Z Fold 5 might not be all that different after all, with same outer display and cameras
- Vivo X Fold 2 could launch as soon as April according to company teaser
- Galaxy Z Flip 5 will have a 3.4-inch outer display, latest rumors say
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