Foldable phone shipments set to grow

NEW Delhi : Foldable phone shipments are likely to grow by 20-30% in 2023, following growth of more than 50% this year compared to the previous year, both globally and in the domestic market.

“Although foldable phone shipments are likely to grow by 20-30% next year, overall they are still small, accounting for just over 2% of smartphone shipments with a price tag. $more than 30,000 in India,” said a senior industry official.

Market research firm Counterpoint, in its annual report, ‘Global Foldable Smartphone Market Forecast, Q3 2022’, said that 2023 will likely end with a growth of 52 % annually at 22.7 million globally. However, while shipments to India grew in line with global growth, foldable smartphones still make up a tiny fraction of total shipments. Industry executives say around 400,000 foldable displays have been shipped to India by 2022.

According to Prachir Singh, senior research analyst at Counterpoint, India’s premium smartphone market accounted for “10-11% of the total market” as of the September quarter. Counterpoint quarterly data shows 45 million smartphones have been shipped in India during this time, Singh said the market share of foldable phones is likely to remain flat in 2023. “India’s average smartphone selling price The degree is still 245 USD (about 1.3 million VND). $20,300), while foldable phones are expensive,” he said.

Tarun Pathak, global smartphone director at Counterpoint, said that foldable phones have captured a double-digit market share in the ultra-premium (over $1,000) segment globally. “We expect it to rise above 20% by 2023,” he added.

Counterpoint’s report notes that while Samsung will continue to lead the foldable phone market next year, China-based brands like Honor, Motorola, Xiaomi, Huawei, Oppo and Vivo could will contribute to increased competition and lower prices in the coming year.

However, despite this growth in foldable smartphone shipments, the overall smartphone market has remained muted — and marked 2022 as a year of consecutive declines. .

Q9, often considered the strongest sales quarter for smartphone vendors in India, saw a “first” annual sales decline this year with 11% decrease. Industry experts note issues such as ever-higher inventories. up to 10 weeks, coupled with a drop in customer demand amid inflation concerns, was the cause of the decline in smartphone shipments in India.

Even amid this slump, the premium market has seen a spike in shipments — fueled by festive device deals from brands like Apple, Samsung, and OnePlus. . According to Counterpoint’s November 4 report for the September quarter, the premium segment reached its highest market share ever in India at 12% — a quarter as Apple’s iPhone 13 became a smartphone. Most shipped in India

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