Canalys, a leading global technology market analyst firm, posted a report with some bold predictions for the future of the foldable smartphone market. The early forecast suggests a yearly shipment rate of 30 million foldable handsets in 2024 resulting in a compound annual growth rate (CAGR) of 53% between 2021 and 2024.
Canalys expects the average selling price (ASP) of foldable smartphones to drop in half from 2019 values to around $1,000 in 2024.
The foldable segment saw a growth of 148% on a per-year basis for 2021 with an approximated total of 8.9 million shipments. While the regular smartphone market grew by 7 percentage points for the same period.
Premium Android phone shipments have seen an 18% decrease compared to 2019. Android makers will likely try and ramp up demand with new foldable devices to keep up with Apple, which saw an increase of 68% in the same period.
Stay Connected with ProPakistani
Get the latest tech news, telecom insights, and product launches wherever you prefer.
Add ProPakistani to Preferred Sources and see more of our stories in Google Search and Top Stories.
