(MENAFN- Youm7) According to a report by Counterpoint, global foldable smartphone shipments grew 64% year-on-year to 2.5 million units in Q1 2023 (Q1 2023).
According to India’s TOI website, the numbers are significant because the foldable market has risen despite a 14.2% year-on-year decline in the total global smartphone market over the same period, and according to the report, almost all major regions of the foldable smartphone market showed strong growth in the first quarter of 2023.
What is driving Global Foldable Smartphone Market?
The report attributes strong growth in the global foldable market due to the growth of the Chinese foldable market. Although the overall Chinese smartphone market will decline by around 8% year-on-year in the first quarter of 2023, the foldable market is growing and increasing. 117%. 1.08 million units on an annual basis.
Chief analyst Jean Park said that by 2023, there will be fierce product and price competition among OEMs in the global foldable market.
Will Apple enter the foldable smartphone arena?
According to Park, Apple is still not in a short-term perspective.
However, with overall consumer response to foldable phones improving, Apple is likely to launch non-foldable products soon, with the brand’s participation in the foldable smartphone market likely to happen after 2025.
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