Foldables are expected to hit 30 million shipments by 2024, report claims
In order for that to become a reality, we’d have to see a compound annual growth rate (CAGR) of 53-percent between 2021 and 2024. The company also expects the average selling price (ASP) of foldables to drop in half from 2019 to 2024. That would mean that the average selling price of foldables would be around $1,000. You can see the company’s graph below.
That is not a completely unrealistic projection, though. Foldables have been increasing their presence on the market consistently. The growth has been quite considerable, and it even managed to surprise Samsung. The foldable segment grew 148-percent on a per-year basis for 2021. According to the report, we’ve seen a total of 8.9 million foldable smartphone shipments in 2021. Just to showcase the growth rate, let’s compare it to the smartphone market growth (in general). The smartphone market grew by only 7-percent in that same period.
The premium Android smartphone shipments have decreased
The premium Android smartphone shipments have actually seen a decrease compared to the values in 2019. The decrease has been pinpointed to 18-percent. So, quite a few smartphone OEMs will try to tempt buyers with high-end foldables. That is one way to fight Apple, as that is the company that has seen a 68-percent increase, which is the polar opposite to the demand for premium smartphones based on Android. Ross Young recently said that quite a few companies are planning to launch foldables in 2022. Google will launch its first foldable in Q4 2022, it seems. Vivo is planning to launch two foldable phones, its first ones. Xiaomi will return with its second-gen foldable, and the same goes for OPPO. We’re sure that Huawei is also planning to return to the foldable smartphone market, and so on.
