Canalys' latest report shows that the shipment of folding screen smartphones is expected to grow at a compound annual growth rate (CAGR) of 53% between 2021 and 2024, and the shipment of folding screen mobile phones is expected to exceed 30 million units by 2024.
According to the latest market data, global smartphone shipments will grow by only 7% in 2021, but the shipments of folding screen smartphones will increase by as much as 148% to 8.9 million units. Canalys predicts that from the launch of the first folding screen product in 2019 to 2024, the compound growth rate of this category market will reach 122%.
Analysts at Canalys said that the highly differentiated appearance of folding screen products is a key factor stimulating its sales growth. In recent years, under the vigorous promotion of Samsung, the supply chain ecology of folding screens has developed rapidly, and with the continuous addition of upstream suppliers who produce folding screens, hinges and other key components, the price of folding screen terminal products has been continuously reduced.
In addition to the design innovation in hardware, the system interface and software adaptation of folding screen products are the real battlefield of mobile phone manufacturers. The Google Android Developer Summit held last November brought many new features to folding screen and dual-screen application developers, and the user experience of folding screen phones is expected to improve.