TrendForce looks forward to the global foldable screen mobile phone market in 2024: Samsung starts a battle to defend 60%, Huawei is expected to break through 20%

IT House News on February 22, TrendForce recently released a report stating that global foldable screen mobile phone shipments will reach 15.9 million units in 2023, a year-on-year increase of 25%, accounting for approximately 1.4% of global smartphones. The growth rate of foldable screen mobile phones will slow down in 2024. The agency estimates that global foldable screen mobile phone shipments in 2024 will be 17.7 million units, a year-on-year increase of 11%, and the proportion will rise to 1.5%. Its growth rate is lower than market expectations, and it is estimated that in 2025 The proportion is expected to exceed 2%. The agency believes that there are two reasons that affect the development of folding screen mobile phones: low consumer stickiness. It is understood that users who purchase folding mobile phones for the first time have trouble with frequent repairs, and lack of confidence in the product, resulting in very high pressure when replacement is needed. May switch to purchasing high-end smartphone flagship phones to replace foldable phones. The current prices of foldable mobile phones on the market have not yet reached the sweet spot for consumers, making it difficult to rely on selling prices to achieve sales targets. In terms of brand, Samsung is still the market leader, but overall its market share continues to shrink. Samsung's market share in 2022 will be about 80%, while it will be less than 70% in 2023, while Huawei's shipments will account for 12%. Other brands such as Xiaomi, OPPO, vivo and other brands are less than 10%.

Looking forward to 2024, Samsung’s goal for foldable mobile phones is the same as in 2023, with a market share estimated to be about 60%; Huawei has significantly increased its shipment target for foldable mobile phones this year, and its market share is expected to exceed 20%.

Huawei just launched the 5G small foldable phone (vertical folding model) Pocket 2 today, with a starting price of 7,499 yuan, and Honor may also launch a small folding phone (vertical folding model) this year.

Major smartphone brands are competing to deploy foldable phones

1. Major smartphone brands have joined the competition in the foldable phone market.
2. Only the mobile phone giant Apple has not officially announced its folding phone plan.

Apple’s exploration of foldable phones

3. Although there are reports that Apple is evaluating related components for foldable phones, there is currently no clear information that Apple will launch a foldable phone.

The impact of Apple’s entry on the market

4. It is expected that once Apple confirms the launch of a folding phone, it will become an important driving force for the development of the folding phone market.

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