TrendForce: The market for foldable smartphones will increase by 44 percent in 2023
The foldable smartphone market will grow by 44 percent in 2023. This is reported by GSM Arena with reference to a TrendForce report.
Analysts predicted that by the end of the year, foldable device manufacturers will put 18.5 million gadgets on the market. This is about 44 percent more than in 2022, when companies shipped 12.8 million foldable phones.
According to the disclosed data of TrendForce, Samsung remained the leader of this market segment. It has a share of 82 percent and is likely to remain the number one foldable device manufacturer in the future. Chinese manufacturers – Xiaomi, Oppo and Vivo – are also prominent, but the firms mainly supply their products to the local market.
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Analyzing the state of the market, experts found that the market for foldable OLED smartphones will grow to $500 million in 2023. This is 14.6 percent more than last year. It is noted that KH Vatech and S-connect, which supply components for Samsung, will remain key players in the market.
The report says that manufacturers will continue to upgrade the design of foldable gadgets. So, in the future, devices may begin to be assembled from OLED panels with hinges integrated into them – this should increase the durability of devices.
In December, TrendForce analysts said global smartphone shipments were down 11 percent year-on-year. The decline is associated with a more cautious behavior of smartphone manufacturers in the market, due to a decrease in demand.
Source: Lenta
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