Foldable smartphone shipments are on an upward trajectory, with market research firm TrendForce forecasting significant growth in the coming years.
Foldable smartphone shipments are expected to reach 17.8 million units by 2024, which would represent just 1.5% of the overall smartphone market. However, the analysts believe the market penetration of foldable phones is expected to increase to 4.8% by 2028.
Samsung has been a dominant force in the foldable phone market, holding over 80% of the market share in 2022. But as the competition intensified in 2023 and 2024, Samsung’s market share dropped from 60%, and it now struggles to maintain a 50% share.
One such competitor, Huawei, made notable advances with the release of its 4G Pocket S in 2023, which boosted its market share to 12%. Building on this momentum, Huawei introduced upgraded 5G models such as the Mate X5 and Pocket 2 in 2024. The company is also preparing to launch the world’s first tri-fold phone in Q3.
Other brands like Xiaomi, Oppo, and Vivo have faced challenges in expanding their foldable phone sales, each failing to reach the milestone of 1 million units. Meanwhile, Motorola has made a significant impact with its Razr 40 and Razr 40 Ultra models.
Price competitiveness remains a key factor in attracting customers to foldable phones. In response, brands are focusing on enhancing display performance, reducing screen creasing, and lowering overall costs.
Reports about Apple entering the foldable phone market have been circulating for some time. TrendForce says Apple is still in the process of evaluating component specifications and performance, with strict requirements for durability and minimal screen creasing.
Apple, however, is unlikely to launch a foldable iPhone before 2027, according to the research firm.
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