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Foldable smartphone shipments forecast to grow by CAGR 53%

Updated: Feb 14, 2023

Samsung Z Fold3 5G

Technology analyst firm Canalys has forecast a healthy level of growth in the foldable smartphone category with global shipments expected to exceed 30 million units by 2024.

Toby Zhu, Analyst for the Canalys mobile division, commented: “foldable form factors present vital differentiation for vendors to stimulate smartphone sales. They are especially appealing to early adopters and high-end users. Android vendors are under big pressure in the premium segment, as shipments of €700-plus smartphones have fallen 18% below the 2019 level while iOS shipments have grown 68% over the same time."

According to the DigiTimes, Samsung has set its sights on boosting foldable smartphone sales in 2022 by 88% to 13 million units. The Korean technology powerhouse has also filed a patent for a multi-foldable phone.

Rumours continue to fly with speculation over Apple’s entry into the foldable phone market along with Google’s Pixel Notepad that could find a way to market by the end of 2022.



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