Samsung Will Have 88% Of Foldable Smartphone Market By End Of Year
Samsung is by far the frontrunner in the foldable smartphone market, with a new report forecasting the Korean tech giant will take a 88 percent share of the global market by the end of this year.
This report, by market tracker Counterpoint Research, comes as Samsung prepares to unveil its new foldable devices — Galaxy Z Fold3 and Galaxy Z Flip3 — on Wednesday. These phones are touted Samsung as having “amazing new multitasking capabilities and enhanced durability.”
Samsung’s impact on the foldable market will see it triple globally in just twelve months, with approximately nine million units expected in 2021. By 2023, Counterpoint predicts a tenfold increase on last year’s results.
“Although the market for foldables is still niche, we expect 2021 shipments of Samsung foldable smartphones to grow significantly, driven by improved design and hardware, and competitive pricing,” Counterpoint said in the report.