The agency predicts that global foldable mobile phone shipments will reach 17.7 million units in 2024, with an annual increase of 10%

According to TrendForce research, global foldable mobile phone shipments will reach 15.6 million units in 2023, an annual increase of 25%, accounting for approximately 1.4% of the overall smartphone market; shipments in 2024 are estimated to be approximately 17.7 million units, an annual increase of 10% %, the proportion increased slightly to 1.5%, the growth rate is still lower than market expectations, and the proportion is expected to exceed 2% in 2025.

1. Low consumer adhesion

It is understood that users who purchase foldable mobile phones for the first time have trouble with frequent maintenance. Lack of confidence in products means that when there is a need for replacement, they are likely to purchase high-end smartphone flagship phones instead of foldable phones.

2. The price of foldable mobile phones is high

The current prices of foldable mobile phones on the market have not yet reached the sweet spot for consumers, and it is difficult to rely on selling prices to achieve sales targets.

TrendForce Analysis

1. Market development depends on cost optimization, and mass production of key components (such as UTG, hinges) can reduce costs.
2. The shipment volume of Chinese panel manufacturers has increased, and the price advantage can reduce the cost of folding mobile phones.
3. Brand owners should lower their selling prices and increase market penetration.

Brand Performance

1. Samsung is still the market leader, with its market share falling from 80% to below 70%.
2. Huawei’s shipment volume increased to 12%.
3. Xiaomi, OPPO, vivo and other brands have a market share of less than 10%.

2024 Outlook

1. Samsung’s foldable phone target remains unchanged, with a market share of about 60%.
2. Huawei has significantly increased its shipment target, and its market share is expected to exceed 20%.

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