Samsung, Huawei to Release Affordable Foldable Smartphones Next Year
Samsung and Huawei are set to revolutionize the foldable smartphone market by introducing more affordable options in the coming year, according to a recent report. While Samsung, a pioneer in the foldable smartphone arena, is shifting its focus to bring competitively priced foldables to the market, Huawei is reportedly working on a triple-foldable screen phone expected to debut by March. This strategic move aims to break down price barriers and make foldable phones more accessible in the mid-range market.
Highlights:
- Samsung and Huawei plan to launch affordable foldable smartphones in the next year.
- Samsung, a leader in foldable technology, aims to introduce cost-effective foldables to the market.
- Huawei is reportedly developing a triple-foldable screen phone expected to be unveiled by March.
According to a TrendForce report, both Samsung and Huawei are gearing up to introduce more competitively priced foldable phones, targeting the mid-range market to enhance accessibility. Huawei's triple-foldable screen phone is anticipated to be official before March 2024, signaling a continued push for innovation in foldable technology.
Recent months have witnessed a surge in foldable phone releases, with over 13 models hitting the market, including the Samsung Galaxy Z Fold 5, Galaxy Z Flip 5, OnePlus Open, Oppo Find N3, and Huawei Mate X5.
The report also indicates a drop in the lowest price for foldable phones to CNY 3,659 in 2023. With more brands expected to release higher-value foldable products in 2024, the broader adoption of foldable phones is anticipated to accelerate. By the end of 2023, foldable smartphone shipments could reach 18.3 million units, marking a 43 percent year-on-year surge. Further growth is projected in 2024, with an expected 38 percent increase, totaling almost 25.2 million units. By 2027, foldable smartphone shipments may reach 70 million units, capturing around five percent of the global smartphone market.
This report aligns with earlier leaks suggesting Samsung's plans to introduce Fan Edition versions of foldable phones, starting with the Galaxy Z FE model after the debuts of the Galaxy Z Fold 6 and Galaxy Z Flip 6 next year. The anticipated expansion in the foldable phone market is likely to prompt other Android manufacturers to follow suit.
