Foldable smartphones to gain popularity in near future

According to market research firm Canalys, shipments of foldable smartphones are anticipated to increase by a CAGR of 53 per cent between 2021 and 2024 to exceed 30 million in 2024 worldwide. Toby Zhu, Canalys Analyst in a statement said: "Foldable form factors present vital differentiation for vendors to stimulate smartphone sales. They are especially appealing to early adopters and high-end users. Android vendors are under big pressure in the premium segment, as shipments of $800-plus smartphones have fallen 18 per cent below the 2019 level while iOS shipments have grown 68 per cent over the same time”. South Korean Tech Giant Samsung is one of the major smartphone makers in the foldable smartphone market. Major smartphone manufacturers are getting ready to fight in the foldable category. This year, many new foldable devices are expected to be launched with reduced thickness, weight, and price.