According to the latest report from TrendForce on February 25th, the global shipments of foldable smartphones reached 15.9 million units in 2023, marking a 25% year-over-year growth and accounting for approximately 1.4% of the overall smartphone market.
The report indicates that although Samsung's market share declined from over 80% in 2022 to below 70% in 2023, it still maintains its leading position in terms of foldable smartphone shipments.
In 2023, Huawei's foldable screen models saw a rise in shipments, reaching 12%, while brands like Xiaomi, Oppo, and Vivo maintained market shares of 10% or less.
According to TrendForce, although shipments of foldable screen models continue to grow year-on-year, signs of growth slowdown have emerged.
The organization attributes this slowdown to two main factors. Firstly, early adopters of foldable models often face maintenance issues, leading to low consumer retention rates and a lack of confidence among existing users. Secondly, the current foldable models still come with relatively high price tags.
Additionally, TrendForce predicts that by 2024, shipments of foldable screen models are expected to rise to around 17.7 million units, representing an 11% increase, with their share of the overall smartphone market inching up to 1.5%. By 2025, the market share of this segment is expected to exceed 2%.
