Foldable Smartphones Statistics By Market Share, Models, Vendor Share, Shipment and Retail Prices 

Introduction

Foldable Smartphones Statistics: If you are considering purchasing a foldable phone in 2024, you will find a wide variety of options at increasingly affordable prices. Since 2023, the foldable smartphone market has expanded significantly, offering a range of models that combine the portability of traditional smartphones with cutting-edge technology. This shift is mainly driven by the demands of tech-savvy and millennial consumers.

In 2024, it is forecasted that around 25 million foldable smartphone will be shipped globally, with expectations for further growth. Samsung leads this market segment, having shipped over 10 million units in 2023 alone. Other major players include Huawei and Xiaomi, although they hold smaller market shares. The available models, such as the Xiaomi Mix Fold 3 with its large displays and the high-end Samsung Galaxy Z Fold 5 and Huawei Mate X5, which cost nearly 2,000 U.S. dollars, highlight the variety in specifications, functionalities, and pricing.

Google has also entered the foldable smartphone industry, contributing to the increasing competition and innovation within this niche market segment. This dynamic market environment suggests a promising future for foldable smartphone, providing a rich array of options for consumers in 2024 and beyond.

Editor’s Choice

• In 2023, the global market value for foldable smartphone reached USD 10,306.2 million.
• Foldable smartphone shipments worldwide hit 15.9 million units, marking a 25% year-on-year increase.
• Samsung led the market, shipping over 12.5 million units, while Huawei followed with 2.5 million.
• In the U.S., 46% of people preferred Samsung foldable smartphone .
• Foldable smartphone shipments are predicted to rise by 38% globally in 2024.
• Huawei became the largest seller of fold-type smartphones in the second quarter of 2023, holding a 32.9% market share.
• Samsung is expected to maintain its lead with a 60.4% market share.
• In the U.S., 49% of consumers chose flip-type foldables over book-type.
• The top foldable smartphone for 2024 are anticipated to be OnePlus Open, Samsung Galaxy Z Fold 5, Motorola Rarz+, Google Pixel Fold, and Samsung Galaxy Z Flip 5.
• Overall, foldable smartphone make up just 1% of the total smartphone market.
• In the last year, 55% of foldable smartphone owners switched back to conventional smartphones when upgrading.
• Despite significant growth, foldable smartphone still only represented 1.5% of the smartphone market at the start of the year.
• Prices are falling, making foldables more accessible; for example, ZTE’s Nubia brand offers a folding phone in Japan for just USD 499.
• Samsung’s market share in foldables has decreased from over 80% to 50.4%.
• Huawei’s market share is expected to rise significantly to over 30% by 2024, potentially boosted by a new “tri-fold” phone model.
• TrendForce predicts that by 2028, foldable smartphone will comprise 4.8% of the market, driven by lower prices and increased availability.

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Facts About Foldable Smartphone

• Foldable smartphones are like a nod to the past and a leap into the future, reminding us of the flip phones from the early 2000s.
• These modern foldables come in different styles, including flip smartphones, book-style smartphones, and even ones you can wear as a watch.
• The foldable smartphone market is growing. In 2024, it’s expected that about 25 million of these phones will be shipped globally.
• Samsung leads this market, having shipped over 10 million foldable smartphone in 2023.
• Other big names like Huawei, Xiaomi, and Google are also making foldables.
• The most expensive foldable smartphone right now are the Samsung Galaxy Z Fold 5 and the Huawei Mate X5, each costing nearly 2,000 USD.
• Xiaomi’s Mix Fold 3 has the biggest screens among foldables.
• Worldwide, nearly five billion people use smartphones as of 2024.
• A survey in 2023 found that more than half of smartphone users in the USA, China, and South Korea would consider a foldable smartphone for their next purchase.
• People are interested in foldables because they are less expensive and have better screens.
• As technology advances, we’ll keep seeing new types of smartphones, including those with artificial intelligence. Foldables are just the start of what’s next in mobile devices.

General Foldable Smartphones Statistics

(Source: counterpointresearch.com)

• In 2023, almost 28% of U.S. smartphone users will likely purchase a foldable phone in the coming years.
• Other users’ willingness to buy foldables is 16% (somewhat likely), 27% (not sure), not likely (12%), and not at all (17%).
• Foldable phone preferences by design are flip-type (49%) and book-type (35%).
• In the United States, 46% of people prefer Samsung-brand foldable phones, followed by Apple (39%) and Motorola (6%).

(Source: counterpointresearch.com)

• In Q1 of 2023, Oppo remained the most robust market for foldable phones in China, with 27% of the share, and it is also known as the most prominent brand worldwide.
• Huawei (27%) and Samsung (26%) are other brand shares.
• Shipments of Samsung foldable smartphones have increased by 125% in 2023.
• By 2025, in the foldable market, the sales share of the ultra-premium segment is expected to double from 7% to 16%.

(Source: kantar.com)

• Only 1% of smartphones owned will be foldable in 2023.
• Around 55% of foldable owners returned to a non-foldable phone.
• These phones depend on flexible display technology using Organic Ligh-Emitting Diode (OLED) panels.
• The advantages of foldable phones include their compact form, larger display size, enhanced multitasking, innovative design, versatility in use, boosted productivity, improved gaming experience, more flexibility and durability, etc.

(Source: kantar.com)

• Samsung leads the foldable smartphone market, holding over 90% of total sales.
• The company introduced its first foldable smartphone in 2019, gaining an early advantage.
• Each year, Samsung releases a new model, improving the technology and expanding its product series.
• Due to its pioneering status, Samsung sets the prices for the market.
• The most common type of foldable smartphone is the Flip device, making up 67% of the market. These phones fold in half and have a smaller screen on the outside.
• Fold devices, which can open up to a larger, tablet-sized screen, make up 33% of the market.
• People who switched from foldable smartphones to models like the Samsung Galaxy S23 Ultra or iPhone 14 Pro Max were willing to pay a high price. This shows that the cost of foldable phones isn’t stopping customers from staying loyal to the brand.
• However, those who own foldable phones are less satisfied with how often they receive software updates, the customer support they get, and the battery life of their phones compared to owners of high-end non-foldable phones.
• Jack Hamlin from Kantar believes that as more people buy foldable phones, fewer people will worry about trying new technology. Still, it’s unclear if foldable phones will become widely popular.
• He also mentioned that negative feedback and reviews from unhappy foldable phone users are significantly affecting the popularity of these phones. People often rely on recommendations from others when choosing to buy a product.
• Many companies are making foldable smartphones, but Apple hasn’t made one yet.
• Companies like Huawei, Motorola, Oppo, Vivo, and Google are creating new designs and lowering prices, but the lowest price is still over USD 999.
• Jack Hamlin noted that 37% of people who own smartphones have an iPhone.
• He also mentioned that among iPhone owners planning to buy a new phone soon, 25% want a foldable one.
• Most of these iPhone owners would prefer to buy a foldable smartphone from Apple if it becomes available.
• Apple entering the foldable phone market could significantly boost the adoption of this technology.

Benefits of Foldable Smartphones

(Source: i.pcmag.com)

• 31% of Americans preferred foldable smartphone because of their compact, easy-to-carry features.
• 20% of people suggested the major benefit of a bigger screen.
• Meanwhile, other benefits are faster performance (17%), modern and up-to-date internal hardware (17%), social recognition (9%), and other (4%).

By Market Share

• The global market valuation of foldable smartphone in 2023 accounted for $10,306.2 million.
• The market is expected to earn around $101,351.7 million in revenue by 2033 at a CAGR of 25.7% from 2023 to 2033.

(Source: mordorintelligence.com)

• The global market for foldable smartphones is expected to reach $28.72 billion in 2024 and $63.31 billion in 2029.
• The compound annual growth rate of the market will grow by 17.13% from 2024 to 2029.
• The major players are Samsung, Huawei, Motorola, Royole, and Microsoft.

By Users

(Reference: statista.com)

• A report generated by Statista in 2023 states that 55% of smartphone users in the U.S., China, and South Korea are willing to buy a foldable smartphone in 2024 as their next preferred device.
• 28% of smartphone users recommended never buying a foldable smartphone.
• A more straightforward decision needs to be made by 17% of users.
• 49% of Americans have chosen to use flip-type foldables over book-type foldables.
• In the U.S., 53% of males and 47% of females will be flip-type foldable smartphone users in 2023.
• On the other hand, male and female users of books are 40% and 30% respectively.

By Geography

• During the forecasted period, East Asia will be one of the attractive markets for foldable smartphone, in which the growth rate of China and India will reach a CAGR of 22.1% and 34.2%, respectively.
• In the North American region, the demand for foldable smartphone increased in 2023, resulting in an 18% share in the United States.

By Category

• Based on the display size of the foldable smartphone, 8 inches will register the fastest CAGR of 34.1% from 2021 to 2031.
• In 2023, the demand for foldable smartphone with 256 GB storage increased, accounting for 57.2% of the highest market share.
• In the same year, the highest capacity segment of foldable smartphone was 8GB RAM, with a 36.1% share.
• The supermarket segment covered the highest revenue share, with a 12.9% share.

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By Models, 2023

(Source: static.toiimg.com)

• The top 5 models of the year are the Samsung Galaxy Z Flip 5, the Z Fold 5, the Z Flip 4, the Honor Magic V2, and the Huawei Mate X5.
• In Europe, Samsung foldable dominates the global market with a share of 72% in Q3.
• Other brand shares are Huawei (9%) and Honor (8%) in the same duration.
• The best-selling models of Samsung Z Flip 5 and Z Fold 5 have a 45% and 42% market share, respectively.
• Huawei’s Mate X3 and Honor’s Magic V2 follow the best models, securing a 6% market share.
• In Q4, the shipment of Samsung’s Z Flip 5 and Z Fold 5 decreased by 42%, whereas Huawei and Honor’s shares increased to 21% and 19%, respectively.
• By the end of the year, Samsung Z Flip 5 was a top foldable model with a 22% share.
• The other models’ market share is followed by Huawei Mate X5 (15%), Honor Magic V2, and Samsung Z Fold 5 (12%).

By Vendor Share

(Reference: statista.com)

• A Statista report states that Samsung was the leading vendor of the foldable smartphone market in 2023, with 68% of the market share.
• Chinese manufacturer Huawei captured the following position in the market with a 14% share of foldable smartphone.
• Other vendors’ market shares are Oppo (5%), Xiaomi (4%), and others (4%).

(Source: img.trendforce.com)

• In 2023, Samsung remained the market leader with a share of 66.4%, which was reduced from the previous year.
• Huawei’s foldable shipment share was 11.9%, compared to companies such as Xiaomi (5.3%) and others (16.4%).
• As of 2024, the Samsung brand will remain the market leader, with a market share of 60.4%.
• Furthermore, other company’s shares are Huawei (19.8%), Xiaomi (5.4%), and others (14.5%).

By Shipment

(Source: communicationstoday.co.in)

• In the financial year 2023, 18.6 million units of foldable smartphones were shipped globally, with an 8% market share.
• Global shipment is expected to increase to 35.7 million units by the end of 2024, with a 13% share of foldables.
• In coming years, the shipment shares will increase, resulting in 2025 (54.7 million units and 21%), 2026 (78.6 million units and 30%), and 2027 (101.5 million units and 39%).

(Source: counterpointresearch.com)

• In the 1^st quarter of 2023, the global shipment of a foldable smartphone accounted for 2.5 million units, with a 64% YoY increment.
• The global shipment was 2.1 million units in the second quarter of 2023, a decrease from Q1.
• Meanwhile, in Q1 and Q2 of 2023, the Chinese foldable shipment totaled 1.1 million units and 1.2 million units, with a market share of 42.7% and 58.6%, respectively.

Shipments By Brands – TrendForce

• Foldable smartphone shipments are on the rise, with TrendForce projecting 17.8 million units sold in 2024. This will account for 1.5% of the total smartphone market.
• By 2028, it’s expected that foldable smartphone will make up 4.8% of the market.
• Samsung, once dominating the market, now holds about 50% after facing increasing competition.
• Huawei is gaining ground, especially with its new models like the Mate X5 and Pocket 2. They are also planning to launch the world’s first tri-fold phone in the third quarter, potentially increasing their market share to nearly 30%.

• Motorola is making a mark with its Razr 40 and Razr 40 Ultra, priced between USD 499 to USD 892, which may help them sell over 1 million units and achieve a 6% market share.
• Nubia has introduced the Nubia Flip in Japan at a competitive price of USD 499, aiming to expand its sales internationally.
• Despite the growth, foldable smartphone face challenges like high repair costs and concerns about the durability of the screen.
• There are rumors that Apple is considering entering the foldable smartphone market, but any product launch is not expected before 2027. Apple’s entry could significantly change the market.

Foldable OLED Shipment Statistics

(Reference: samsungdisplay.com)

• Foldable OLED shipment in 2023 turned out to be 32.14 million units, estimated to reach 46.88 million.
• In the coming years, shipment units of OLED will increase, such as 2025 (66.62 million), 2026 (75.73 million), 2027 (87.95 million), and 2028 (105.49 million).

By Region

(Reference: counterpointresearch.com)

• The global foldable market growth rate in the 1^st quarter of 2023 was highest in China, with a YoY growth rate of 117%.
• Furthermore, other regions with the YoY growth rate of the foldable phone market in the same quarter are North America (43%), western Europe (17%), and Asia Pacific (15%).

By Retail Prices

• In October 2023, the most expensive folding phone in the United States was the Google Pixel Fold (256 GB), which cost $1,880.
• The cost of Motorola Razr (128 GB) is $660.
• Other models retail prices are OnePlus Open ($1699), Samsung Galaxy Z Fold 5 ($1800/$1920), Honor Magic V2 ($1299), and Xiaomi Mix Fold 3 ($1888).

By The Indian Market

• In the 1^st half of 2023, the market shares of the Indian foldable smartphone market have made 8% of the share.
• 82% of total foldable shipments took place during the same period.
• By the end of the year, more than 6.5 lakh foldable smartphones were sold out.
• By 2025, the market is supposed to reach over 35% share.
• The Noida factory manufactures two flagship devices for the Indian market: the Galaxy Z Fold 5 and Galaxy Flip 5.

(Source: gadgets360.com)

(Source: gadgets360.com)

Recent Developments

• Huawei’s Market Growth: Huawei has become a significant player in the foldable smartphone market, particularly with the launch of its 5G-supported models like the Mate X5 and Pocket 2. The company has seen substantial shipment growth, especially in overseas markets such as Western Europe, where its HONOR Magic V2 model has become very popular.
• Samsung’s Strategic Moves: Samsung continues to innovate in the foldable market with its Z Flip and Fold series. The company is also planning major acquisitions to expand its technological capabilities and market presence. Samsung’s focus remains on reclaiming its leadership in the foldable segment with upcoming models like the Z Flip 6, which is expected to feature enhanced performance and reliability.
• Motorola and Market Expansion: Motorola has also increased its foldable smartphone market share with successful models like the Razr 40, known in some markets as Razr 2023. This model has performed particularly well in North America, contributing to Motorola’s growing presence in the foldable phone market.
• New Market Entrants: Other brands like Xiaomi and HONOR are also entering the clamshell foldable market, which is expected to intensify competition and possibly lead to more innovative and affordable foldable smartphone offerings.
• Technological Innovations: Across the board, companies are focusing on improving the durability and display quality of foldable phones to attract more consumers. Innovations are particularly concentrated on reducing the creasing effect of screens and enhancing the overall user interface.

By Model Specification

(Source: storage.googleapis.com)

• Google’s Pixel Fold was released in June 2023.
• Specifications: main display (7.92-inch), second display (6.43-inch), unfolded thickness (5.8 mm), folded thickness (12.1 mm), battery (4821 mAh), weight (283 gm), and price ($1799).

(Source: forbes.com)

• Honor Magic V2 – July, 2023.
• Specifications: main display (7.92-inch), second display (6.43-inch), unfolded thickness (4.7/4.8 mm), folded thickness (9.9/10.1 mm), battery (5000 mAh), weight (21/237 gm), and price ($1260).

(Source: samsung.com)

• Samsung Galaxy Z Fold 5 – August, 2023.
• Specifications: main display (7.6-inch), second display (6.2-inch), unfolded thickness (6.1 mm), folded thickness (13.4 mm), battery (4400 mAh), weight (263 gm), and price ($1820).

(Source: gadgets360cdn.com)

• Xiaomi Mix Fold 3 – August, 2023
• Specifications: main display (8.03-inch), second display (6.56-inch), unfolded thickness (5.3 mm), folded thickness (10.9 mm), battery (4800 mAh), weight (255/259 gm), and price ($1260).

(Source: gadgets360cdn.com)

• Huawei Mate X5 – September, 2023
• Specifications: main display (7.85-inch), second display (6.4-inch), unfolded thickness (5.3 mm), folded thickness (11.1 mm), battery (4800 mAh), weight (243/245 gm), and price ($1820).

(Source: oppo.com)

• OPPO Find N3 – October, 2023
• Specifications: main display (7.8-inch), second display (6.31-inch), unfolded thickness (5.8 mm), folded thickness (11.7 mm), battery (4800 mAh), weight (239/245 gm), and price ($1367).

Conclusion

After completing the article on Foldable smartphone statistics, I learned that foldables have transformed the global mobile market by raising productivity, improving user experiences, and promoting innovations. In the coming year, foldable smartphone manufacturing brands will invest more in advanced technology to add new features and increase durability.

This article includes current statistics from 2023 to 2024, such as market share, shipment, brand type, users, and future growth. All the above analyses will help you gain basic knowledge about the market to make a better decision before investing.

Barry Elad

Barry Elad is a tech enthusiast passionate about exploring various technology topics. He collects key statistics and facts to make tech easier to understand. Barry focuses on software and its benefits for everyday life. In his free time, he enjoys creating healthy recipes, practicing yoga, meditating, and walking in nature with his child. Barry's mission is to simplify complex tech information for everyone.

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