Samsung and Huawei to Introduce More Affordable Foldable Phones

Samsung and Huawei to Introduce More Affordable Foldable Phones

VoM News Desk | November 11, 2023 | 12:38 PM IST | Tech | Follow on Google News

Samsung and Huawei to Introduce More Affordable Foldable Phones

Samsung and Huawei to Introduce More Affordable Foldable Phones

Samsung, a pioneer in the foldable smartphone market with its Galaxy Z Fold series, is reportedly shifting its focus to introduce more affordably priced foldable phones. This strategic move is expected to start next year and is aimed at making foldable technology more accessible to a wider audience. Huawei, another major player in the foldable phone market, is also planning to release competitively-priced foldables, including a triple-foldable screen phone.

Triple-Foldable Screen Phones on the Horizon

According to a report by TrendForce, both Samsung and Huawei are working on introducing foldable phones at more mid-range prices in the coming year. Huawei is notably working on a triple-foldable screen phone that might be unveiled before March of next year. Additionally, two triple-foldable screen phones are expected to be introduced in 2024, signaling a new direction in foldable phone technology.

Recent Surge in Foldable Smartphone Releases

The foldable smartphone market has seen a significant increase in activity, with over 13 models released in just three months. These include the Samsung Galaxy Z Fold 5, Galaxy Z Flip 5, OnePlus Open, Oppo Find N3, and Huawei Mate X5. This trend reflects the growing interest and investment in foldable technology among major Android smartphone manufacturers.

Cost Reduction and Market Growth

The report highlights a notable decrease in the lowest price for foldable phones, which has dropped to CNY 3,659 in 2023. This trend is expected to continue, with more brands likely to release higher-value foldable products in 2024. This shift is anticipated to further accelerate the adoption of foldable phones.

Expected Surge in Foldable Phone Shipments

Projections indicate that by the end of 2023, shipments of foldable smartphones could reach 18.3 million units, a 43 percent increase year-on-year. In 2024, a growth of 38 percent is expected, with shipments nearing 25.2 million units. By 2027, shipments could reach 70 million units, accounting for approximately five percent of the global smartphone market.

Samsung’s Fan Edition Foldable Phones

An earlier leak suggested that Samsung plans to unveil Fan Edition versions of its foldable phones, starting next year. The Galaxy Z FE model is expected to debut after the release of the Galaxy Z Fold 6 and Galaxy Z Flip 6. The entry of more Android manufacturers into the foldable phone market is anticipated, further expanding this innovative segment.

VoM News Desk

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