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Foldable smartphones have transitioned from futuristic concepts to mainstream devices, offering users the versatility of a tablet within the compact form of a phone. As the 2024 holiday season approaches, consumers can anticipate significant discounts on these innovative gadgets, making it an opportune time to consider an upgrade. According to a TrendsForce report, foldable smartphones have been on the rise for the past couple of years.
In 2023, global shipments hit 15.9 million units, with YoY up 25% and taking up about 1.4% of the total smartphone market share.
Industry forecasts for 2024 point to slightly increasing shipments to about 17.7 million units, an 11% increase. The impact on market share is small but has it increased to 1.
5%. Currently, foldable phones are only a small percentage of the whole smartphone market. However, consumer interest in technological improvements is set to raise their market share to 4.
8% in the year 2025. Undoubtedly, Samsung is still the leader in the foldable phones segment; it will occupy almost 50.5% of the market by 2025.
Moreover, China has also been stepping up its production with Huawei controlling almost 31% of the market while smartphone manufacturers like Honor, Xiaomi Oppo, Vivo, etc., share a smaller market. The 2024 holiday season brings substantial discounts on various foldable smartphones: Samsung Galaxy Z Fold 6 : Samsung is offering discounts of up to $700 without a trade-in and up to $1,500 off with eligible trade-ins, making this premium device more accessible to consumers.
Samsung Galaxy Z Flip 6 : This compact foldable phone is available at a discounted price of $949, down from its regular price, providing a more affordable entry into Samsung's foldable lineup. Motorola Razr 2024 : Cricket Wireless has reduced the price of the Motorola Razr 2024 from $699 to $99, an impressive 85% discount, providing an affordable entry point into the foldable phone market. OnePlus Open : OnePlus's first foldable phone is available at a discounted price of $1,200, down from $1,700, offering a $500 savings for consumers seeking high-end features at a reduced cost.
Google Pixel 9 Pro Fold : Google's latest foldable is available for $1,629, down from its regular price, offering a premium experience with Google's software optimizations. Several innovations have contributed to the growing popularity of foldable smartphones : Improved Display Technology: Screen protection has also been boosted by improvements in Ultra-Thin Glass (UTG) and genuine hinge motors that make foldable handsets resist thousands of flexing without degrading. Optimized Multitasking: Since the dual-display concept is characteristic of foldable phones, several such devices now come with enhanced software applications involving split-screen multitasking, floating windows, as well as app continuity, so that they can be used for work purposes and entertainment.
Battery Efficiency: To counter this problem, manufacturers are utilizing big batteries and efficiency solutions in foldable format. Camera Enhancements: Periscope triple zoom lenses and AI imaging advances make foldable smartphone cameras even more like flagship-class photography tools for shutterbugs. When contemplating the purchase of a foldable smartphone during the holiday season, consumers should evaluate several factors : Durability : Despite the positive changes in the strength of the foldable screen or hinge, anyone interested in the purchase should read some of the specifications and read reviews from other users about the strengths of the model.
Software Optimization: First and foremost, foldable phones provide a rather new class of multitasking. An important thing to ask is if the software on the device can be maximized to integrate the flexible form of the screen featured on the device. Warranty and Support: Since solar power is still a fairly recent development, comprehending the warranty and the customer service options may also give confidence.
The smartphone’s foldable type is still growing at present. Industry research demonstrates that volumes are expected to reach 25 Million devices shipped globally in 2024 from 2023 alone a growth of 37.6%.
Global foldable shipments are expected to reach 45.7 million units by 2028, at a CAGR of 20.3% between 2023 and 2028.
The reasoning behind this growth includes an increased consumer desire for big screen sizes in slimmer and more portable form factors, better implementations of the hinge system, and upgraded 5G networks improving the mobile experience. New foldable smartphones can be lying in wait to be purchased by consumers at lower prices as people begin to make preparations for the 2024 holiday season. As the premier brands release new foldable phones with up to 50% discounts, there is no better time than now to try the new form of portable innovation.
It will therefore become a popular feature in the market as it grows and technology progresses making foldable smartphones next-generation mobile devices that are ready for people to purchase..
