Why do technology companies bet on folding phones?

Foldable cell phones, a growing market

An IDC report shows there is demand for foldable phones, with 7.1 million units shipped last year, well up from 1.9 million units shipped in 2020. The analytics firm also predicts the foldable phone market will reach 27.6 million. million units worth $29 billion by 2025.

For its part, Samsung, who recently introduced the new generation of Galaxy Flip and Fold, noted that the popularity of its largest phone is on the rise.

“Last year the preference for Flip was greater, now users are preferring Fold and there is much greater acceptance,” said Sang Jik Lee, president of Samsung Electronics Mexico, during the presentation in Mexico.

Samsung introduced its first foldable phone to the market in 2019 and has pioneered the vertical ever since. However, being the first in the game brought some challenges, mainly with the screen, such as cracks, air bubbles, scratches, and even broken screens.

In its new generation of phones, the company has reinforced the battery of the equipment and the resistance of the screen, but also its size, aimed at being smaller than a prototype premium smartphone.

“We have noticed that the folding market is no longer niche, now users are looking for this type of smartphone for daily use,” said Claudia Contreras, CMO of Samsung Electronics Mexico.

For its part, Counterpoint Research points out that the global market for foldable smartphones will grow 73% this year, which will generate higher revenues for companies that have this business vertical.

Companies like Oppo and Honor have also launched their version of foldable phones with Oppo Find N and Honor Magic V, adding to this type of market.