Global foldable smartphone shipments are set to surpass 100 million units on a cumulative basis by the end of this year, driven by Apple's entry into the market.
Cumulative foldable phone shipments worldwide will pass the 100 million mark by year-end, according to research firm Counterpoint Research on the 7th. The milestone comes eight years after foldable phones were first commercialized in 2019. Annual shipment growth will accelerate from 18% last year to 24% this year and 37% next year, Counterpoint Research said.
The main driver of this year's growth is Apple's launch of its first foldable iPhone. Apple will unveil the first foldable model in its iPhone lineup on the 9th. The company is expected to ship 6 million units this year for a 25% market share, ranking second behind Samsung Electronics (005930) at 38%. Next year, Apple is projected to more than double shipments and capture a 40% market share.
Samsung Electronics is also fueling market growth, preparing its Galaxy Z9 series for next year after the Galaxy Z8 series posted record preorders this year. Huawei recently scored an early hit with its new Pura X Max and will also unveil the Mate XT2, a phone that folds twice. Xiaomi is launching the Xiaomi 18 Fold, the first in the industry to adopt new technologies including low-power double data rate (LPDDR) 6 memory.
"Apple's entry will clearly intensify competition in the premium market," Counterpoint Research said. "Samsung Electronics continues to lead innovation, Huawei maintains its strength in China, and more manufacturers are preparing new designs and form factors that will support market growth over the next several years."
