Canalys' latest report has some bold predictions for the foldable smartphone market in the near future. Early forecasts suggest that annual shipments of foldable phones will reach 30 million units in 2024, meaning a compound annual growth rate (CAGR) of 53% from 2021 to 2024.
Meanwhile, Canalys expects the average selling price (ASP) of foldable phones to fall by half from its value in 2019 to around $1,000 by 2024. In 2021, due to the research of mobile phone manufacturers such as Samsung and OPPO Huawei Honor on the field of foldable devices, the annual growth rate of the foldable equipment field is 148%, and the total shipment volume in 2021 is expected to be 8.9 million units. Gone are the days when folding screens are high, and their average selling price will drop to 6-7,000 yuan.
The supply chain for folding screen mobile phones has developed rapidly in the past few years, with more and more suppliers offering hinges, folding screens and other key components. As suppliers gradually reduce the thickness, weight and pricing of folding screen mobile phones, the share of folding screen products in the mobile phone market will gradually increase, and such models will be more loved by mass users, surpassing competitors with innovative and differentiated experiences.
Analysts said that with the increase in consumer demand for mobile devices, the large-screen video and audio experience has become a major factor stimulating users' desire to buy. Android mobile phone suppliers have fully impacted the high-end market, but shipments have declined compared with the same year, and manufacturers must attract users to buy in a new form of mobile phones.
For comparison, the general smartphone market grew by 7 percentage points over the same period. Shipments of premium Android phones fell 18 percent compared to 2019 values, so Android makers are trying to boost demand with new foldable form products to better compete with Apple, which grew 68 percent over the same period.
Do you prefer a folding screen or a traditional screen form? Feel free to leave a comment in the comments section and say what you think.