Overview:
The 2024 global smartphone market is expected to reach 1.25 billion units, a 4.2% increase over the previous year.
The foldable market is expected to increase in 2024 reaching to 19.1 m units mainly due to the following factors: 1) Emergence of mid-priced foldable products and growth of the mid-priced market; 2) Diversification of foldable products supplied to the global market; 3) Growth in relatively small regional markets such as Asia and MEA with the revival of major regional markets such as North America and Europe.
The global foldable market, which has seen explosive growth since 2019, decelerated in 2023. It is natural for many niche markets to experience some slowdowns after initial rapid growth. However, the foldable smartphone market has yet to reach that stage, especially when we consider the size of the ultra-premium or premium smartphone market. Conversely, the decline in the growth rate of the global foldable market in 2023 is expected to serve as an opportunity for the foldable market to grow differently than before.
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Author
Jene Park
Jene (Jin Suk) is a Senior Research Analyst at Counterpoint Research based on Seoul korea, Since he started his career in Samsung, he experienced various industry and jobs including Strategy Consultant in international Consulting firms. To pursue his major interest in smart devices and connectivity, he joined Counterpoint Research team. In academic side, Jene holds a Bachelor of Economics degree in Yonsei Univ in Korea.
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