Foldables phones are the next step towards the evolution of phones, though they do not come cheap. Samsung, one of the early adopters of the foldable form factor, has two models in its line up – Galaxy Z Flip, having a clamshell form – and – Galaxy Z Fold, the book style foldable – having a price of $1000 or about a lakh rupees onwards. However, Samsung is said to be working on a relatively affordable foldable, which could arrive next year i.e., 2024.
Samsung is reportedly planning to introduce a mid-range foldable phone in 2024 in an effort to make foldable devices more affordable for consumers.
According to research firm TrendForce, Samsung is aiming to reduce the price barriers of foldable phones by introducing a device that is less expensive. Supply chain sources suggest that Samsung is also planning to bring foldable phones to the mid-range market next year.
While it is unclear what form factor Samsung will aim for, or how low the price point will be, rumours suggest that it could be around $400-$500 (around Rs 33,000-Rs 41,000).
This year, the lowest price for foldable phones has already dropped to 3,659 yuan (RMB), setting a new record. In the upcoming year, more manufacturers will introduce higher-value foldable phone products, thus accelerating the broader adoption of foldable phones. The report notes that the driving force behind the expansion of the foldable market is the reduced costs and the expansion strategies of Chinese brands.
Foldable smartphones are expected to represent 1.6% of the total smartphone market with 18.3 million units sold in 2023, increasing to 2.2% with 25.2 million units sold in 2024. By 2027, shipments are predicted to reach 70 million units, accounting for 5% of the global smartphone market.
Manufacturers are pushing the boundaries of product design and innovation to enhance the user experience. Although dual-foldable screen phones face size limitations, several companies are already exploring the possibility of triple-foldable screen devices. According to industry insiders, Huawei is making significant progress in developing a triple-foldable screen phone, and it may be ready for launch in early 2022. It is speculated that two triple-foldable screen phones will be released in 2024.
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