According to TrendForce’s latest report, shipments of foldable phones are to increase by 55% yearly to reach 19.8 million units in 2023. This is an increase of about 5 million units from 12.8 million units in 2022.
Currently, Samsung is leading the foldable market and the company plans to unveil a new product on July 26, 2023, in Seoul Korea (Expected). The main focus is whether the South Korean tech giant will be able to maintain the world’s No. 1 position in smartphones and strengthen its leadership in foldable phones.
However, the latest report from IDC, a market research firm, predicted 1.17 billion smartphone shipments this year. 3.2% decrease from the previous year. Trend Force estimated the number of used phones in 2022 at 167 million. They accounted for 11% of the total market. The preferable order markets are – China, Europe, and India.
Trend Force analyzed that “Samsung Electronics is currently supplying 13 million units or 70% of the foldable phone market.” Meanwhile, the company is gearing up to launch the new foldable phones – the Galaxy Z Flip 5 and Fold 5 next month (July 2023).
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