Samsung is gearing up to broaden its range of foldable smartphones, targeting the midrange segment. The company, as per a recent TrendForce report, is set to unveil a midrange foldable device in the coming year. Although prior speculations hinted at this move, it remains uncertain whether Samsung’s upcoming device will adopt a book-style foldable design or opt for the clamshell configuration.
Samsung’s Foldables: Expanding to the Midrange and Beyond
The prevailing expectation leans towards the latter possibility, suggesting the potential release of a Galaxy Z Flip6 FE, equipped with slightly scaled-down specifications. Concurrently, the report indicates Huawei’s intention to introduce a foldable device with a more competitive price point in the near future.
Twitter user Revegnus disclosed a purported pricing strategy for Samsung‘s midrange foldable, targeting a range between $400 and $500. Even factoring in Value Added Tax (VAT), European consumers might anticipate a €650 price tag. Notably, this price point positions the foldable within an appealing range. Especially when compared to the starting price of the Galaxy Z Flip5, which hovers just below €800.
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Analyzing TrendForce‘s projections, the foldable smartphone market is poised for remarkable growth. By 2023, shipments should surge by 43% Year-on-Year (YoY), reaching an impressive 18.3 million units. However, this would only constitute a modest 1.6% share of the total smartphone market for that year. Looking ahead to 2024, they expect a 38% growth. Translating to 25.2 million units and nudging the market share up to 2.2%.
TrendForce’s long-term outlook suggests an inevitable expansion of the foldable smartphone market. By 2027, shipments could skyrocket to an astonishing 70 million units, capturing approximately 5% of the global smartphone market.
Simultaneously, manufacturers of foldable phones are pushing the boundaries of innovation, exploring new product forms and enhancing end-user applications. While certain constraints exist in terms of size for dual-foldable screen phones, several companies have already embarked on the development of triple-foldable screen products, signaling a dynamic future for foldable smartphones.
