Shipment Of Foldable Model Phones Will Increase Sharply This Year Until 2023

Samsung is the only major company pushing foldable phones (photo: Daniel Romero / Unsplash)

JAKARTA - Several mobile phone manufacturers have brought foldable cell phone innovations into reality. Although the device is fairly new, Samsung is gearing up to launch its third-generation foldable phone on August 11 at the upcoming Galaxy Unpacked event.

According to analysis firm Counterpoint Research as quoted by Gizmochina, Friday, August 6, Samsung will dominate the market with more than 88 percent market share for foldable devices.

While Samsung is planning to bring major upgrades and lower prices, the company hopes to drive more sales of foldable phones going forward.

Counterpoint Research also estimates that shipments of foldable phones will triple this year compared to last year, reaching 9 million units.

"We expect Samsung's foldable phone shipments in 2021 to grow significantly, driven by improved design and hardware, as well as competitive pricing," said Counterpoint Research.

However, in the next few years like 2023, there could be a 10-fold growth in the shipments of foldable model phones. Currently, there are only a handful of companies with foldable phones. In fact, if more manufacturers enter the market including Apple, Samsung is expected to still maintain its main player status with 75 percent market share.

Samsung seems to be the only big company pushing foldable phones into the mainstream. Other phone manufacturers such as Xiaomi, OPPO, Vivo, and Honor are expected to launch their first commercial foldable phones later this year but the launch schedule is not yet available. Apple itself is reportedly working on a foldable iPhone and is expected to launch in 2023.