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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

A foldable smartphone is a device with a folding form factor, which include the layout, size, and design of the mobile phone. The feature of the foldable smartphone is that it folds in an outward and inward direction. The foldable smartphone has flexible display which allows the phone to bend, twist, and fold. The flexible display technologies include e-paper and OLED (Organic Light Emitting Diode) displays. When power is transmitted through organic compounds of e-paper and OLED, they radiate their own light, which implies that these displays do not require illuminated lights to function as they radiate their own light, enabling the foldable smartphones to be thinner and more flexible. Some devices fold out on a vertical plane to form a broader display, tablet-like form, but remain usable in a smaller, folded state; the display could either roll around to the back of the smartphone when folded, or even use as a booklet-like structure where the wider, folded display is located on the inner surface, and a display on its "cover" allows users to use the smartphone without opening it.

Global Foldable Smartphone Market - Impact of Coronavirus (Covid-19) Pandemic

Due to COVID-19 pandemic, numerous industries have witnessed major shift in their business. There has also been negative impact on the growth of global foldable smartphone market as manufacturing processes are provisionally closed across several countries to contain the Coronavirus. There is also a shortage of mobile chipsets in the market due to distraction in manufacturing. Several manufacturing companies such as Samsung, Xiaomi, OPPO, and LG Display have suspended their manufacturing operations in China, India, South Korea, and in European countries. As China being a hub for electronics equipment’s and companies inclines to manufacture their products in China, the market due to COVID-19 has drastically dropped. For instance, in May 2020, OPPO company closed down its processes in Noida, India. Additionally, demand for foldable smartphone devices has decreased due to lockdown imposed in several countries.

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Foldable Smartphone Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 15.83 Bn
Historical Data for: 2017 to 2019 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 20.4% 2028 Value Projection: US$ 69.91 Bn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, and Rest of Asia Pacific
  • Middle East and Africa: GCC Countries, South Africa, and Rest of Middle East and Africa
Segments covered:
  • By Functionality Type: Inward Fold, Outward Fold
  • By Sales Channel: Online, Offline
Companies covered:

Huawei, Lenovo Group Ltd., LG Electronics, Microsoft, Motorola, Oppo Co. Ltd, Royole, Samsung, Sony, TCL, Xiaomi

Growth Drivers:
  • Increase in demand for advanced consumer electronics combined with high adoption in entertainment and gaming industries
  • Rising demand for Phablet
Restraints & Challenges:
  • High cost of advanced technology

Figure 1. Global Foldable Smartphone Market Share (%), by Region, 2028

Foldable Smartphone  | Coherent Market Insights

Asia Pacific is expected to witness a significant growth over the forecast period, owing to rise in demand for advanced consumer electronics combined with high adoption in entertainment and gaming industries.

Foldable smartphones have been set at the top of smartphone technology, which became profit oriented in 2019. China is the global manufacturing center for most electronic devices and components. One of the motive that companies produce their products in China is because of the ample sufficiency of lower-wage workers available in the country. Moreover, the business environment of networked dealers, component makers, and distributors has progressed to make China more competent and economical place for production. These are the factors which propel the global foldable smartphone market. For instance, Huawei Technologies Co., Ltd, based in Shenzhen, Guangdong is a Chinese multinational technology company, which designs, develops, and sells telecommunications equipment and consumer electronics.  The Huawei Mate X2 is an Android-based high end foldable smartphone produced by Huawei. The phone, unveiled on February 22 2021, serves as the successor to the Mate X and Mate Xs. One of the feature of foldable smartphone is the large screen tablet with the portability of a smartphone. The screen of the foldable smartphone is broader than the regular smartphones. Consumers highly prefer this foldable smartphone for entertainment and gaming purposes. The market players such as Huawei and Samsung have been developing new models of smartphones with foldable feature.

Figure 2. Global Foldable Smartphone Market Share (%), by Functionality Type, 2028

Foldable Smartphone  | Coherent Market Insights

Based on functionality type, the market is segmented into inward fold and outward fold. Inward fold is expected to reach a market share of 52% by 2027, exhibiting a 22.6% CAGR between 2020 and 2027.

Foldable smartphones use flexible, plastic organic light-emitting diode (OLED) displays instead of glass such as corning's gorilla glass product. Plastic displays are certainly capable of supporting the specified bend radius for a foldable smartphone, but they are more vulnerable to stains and scratches than traditional glass smartphone displays. Even though corning does produce a versatile glass product referred to as willow glass, the corporate states that, its manufacturing process requires a salt solution thus making it unsuitable for electronic displays as the salt can harm the transistors used in OLED panels which are built directly on the panel. However, to overcome this issue, the process of developing a versatile glass suitable for smartphones has initiated, which might be 1 mm (0.039 in) thick and have a 5 mm (0.20 in) bend radius.

Market Dynamics

The emerging development of form factor in global foldable smartphone market is expected to propel the market growth during the forecast period 2021-2028.

Foldable smartphone is fundamentally determined by design and appearance which can be changed to normal screen when unfolded. This foldable smartphone component of design and appearance is remarkable in advanced mobile phones which redirect the attention of purchaser and draws in them to purchase. The growth in disposable income and expanded buying power of customers has pushed the handheld devices such as personal digital assistant market including foldable smartphone market. This foldable smartphone will be a pioneer for new age which is excited about testing inventive products. The user interface configuration is noticeable factor in foldable smartphones. The foldable smartphone development has yet not achieved its top because of significant expense and low entrance to the market. Another explanation of restricted development could be damaged screen detailed by numerous clients after less utilization. The frequent collapsing of screen tend to bend because of steady tension on screen and can be hindering to the plan and quality of foldable smartphone. The market of foldable smartphones is extremely competitive. For instance, Xiaomi and Redmi foldable smartphone prices are much inferior to Sony and Samsung. The flexibility in folding framework which is important in maintaining the screen appearance is also a decisive factor in attaining the buyer base. Foldable smartphone giants should focus on updating the durable screen which can avoid segment formation and to deliver maximum screen area with compact folding size.

Market Taxonomy

This report segments the global foldable smartphone market on the basis of functionality type, sales channel, and region. On the basis of functionality type, foldable smartphone market is segmented into inward fold and outward fold. By sales channel, the market is segmented into online and offline. Based on region, the market can be categorized into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

Key features of the study:

  • This study provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by leading players
  • Key players operating in the foldable smartphone market include Huawei, Lenovo group Ltd., LG Electronics, Microsoft, Motorola, Oppo Co. Ltd, Royole, Samsung, Sony, TCL, and Xiaomi.
  • These leading market players focus on collaboration strategies with other industry leaders in order to innovate and develop new items to fulfil consumers' growing needs and demands
  • Marketers and company executives would be able to make informed decisions about future product releases, technology upgrades, market expansion, and marketing methods based on the findings of this research

New System Launch-

Samsung, based in South Korea is a multinational company which offers latest mobile phones, smart phones, tablets, smart watches and other mobile devices. For instance, in August 2021, Samsung Galaxy Z Fold 3 mobile was launched. The smartphone has a 7.60-inch touchscreen primary display with a resolution of 2208x1768 pixels at a pixel density of 374 pixels per inch (ppi). Furthermore, it also has a 6.20-inch touchscreen as its secondary display, with a resolution of 832x2268 pixels. The smartphone is powered by an octa-core processor. It features with 12GB of RAM. The Samsung Galaxy Z Fold 3 runs Android 11, operating system and is powered by a 4400mAh battery. The Samsung Galaxy Z Fold 3 supports proprietary fast charging.

Detailed Segmentation

  • Global Foldable Smartphone Market, By Functionality Type:
    • Inward Fold
    • Outward Fold
  • Global Foldable Smartphone Market, By Sales Channel Type:
    • Online
    • Offline
  • Global FTL and LTL Shipping Services Market, By Region:
    • North America
      • On the Basis of Functionality Type:
        • Inward Fold
        • Outward Fold
        • On the Basis of Sales Channel:
        • Online
        • Offline
      • By Country:
        • U.S.
        • Canada
    • Europe
      • On the Basis of Functionality Type:
        • Inward Fold
        • Outward Fold
        • On the Basis of Sales Channel:
        • Online
        • Offline
      • By Country:
        • Germany
        • Italy
        • U.K.
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • On the Basis of Functionality Type:
        • Inward Fold
        • Outward Fold
        • On the Basis of Sales Channel:
        • Online
        • Offline
      • By Country:
        • China
        • India
        • Japan
        • Australia & New Zealand
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • On the Basis of Functionality Type:
        • Inward Fold
        • Outward Fold
        • On the Basis of Sales Channel:
        • Online
        • Offline
      • By Country:
        • Brazil
        • Argentina
        • Mexico
        • Rest of Latin America
    • Middle East and Africa
      • On the Basis of Functionality Type:
        • Inward Fold
        • Outward Fold
        • On the Basis of Sales Channel:
        • Online
        • Offline
      • By Country:
        • GCC Countries
        • South Africa
        • Rest of Middle East and Africa
  • Company Profiles
    • Huawei *
      • Company Overview
      • Product Portfolio and Specifications
      • Financial Performance
      • Strategic Overview
      • Recent Developments/Updates
    • Lenovo Group Ltd.
    • LG Electronics
    • Microsoft
    • Motorola
    • Oppo Co.Ltd
    • Royole
    • Samsung
    • Sony
    • TCL
    • Xiaomi

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
    • Market Definition and Scope
    • Executive Summary
    • Market Snippet, By Functionality Type
    • Market Snippet, By Sales Channel
    • Market Snippet, By Region
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
    • Drivers
    • Restraints
    • Market Opportunities
    • Regulatory Scenario
    • Solutions Trend
    • New system Launch/Approvals
  4. Global Foldable Smartphone Market - Impact of Coronavirus (Covid-19) Pandemic
  5. Global Foldable Smartphone Market, By Functionality Type, 2017-2028 (US$ Million)
    • Introduction
    • Market Share Analysis, Y-o-Y Growth Analysis, 2021 and 2028 (%)
    • Segment trends
      • Inward fold
        • Introduction
        • Market Size and Forecast, Y-o-Y Growth Analysis, 2021–2028, (US$ Million)
      • Outward fold
        • Introduction
        • Market Size and Forecast, Y-o-Y Growth Analysis, 2021–2028, (US$ Million)
  6. Global Foldable Smartphone Market, By Sales Channel, 2017-2028 (US$ Million)
    • Introduction
    • Market Share Analysis, Y-o-Y Growth Analysis, 2021 and 2028 (%)
    • Segment trends
      • Online
        • Introduction
        • Market Size and Forecast, Y-o-Y Growth Analysis, 2021–2028, (US$ Million)
      • Offline
        • Introduction
        • Market Size and Forecast, Y-o-Y Growth Analysis, 2021–2028, (US$ Million)
  7. Global Foldable Smartphone Market, By Region, 2017-2028 (US$ Million)
    • Introduction
    • Market Share Analysis, Y-o-Y Growth Analysis, 2021 and 2028 (%)
      • North America
        • Regional Trends
        • Market Size and Forecast, By Functionality Type, 2021-2028(US$ Million)
        • Market Size and Forecast, By Sales Channel, 2021-2028(US$ Million)
        • Market Share Analysis, By Country, 2021 and 2028 (%)
          • U.S.
          • Canada
      • Europe
        • Regional Trends
        • Market Size and Forecast, By Functionality Type, 2021-2028(US$ Million)
        • Market Size and Forecast, By Sales Channel, 2021-2028(US$ Million)
        • Market Share Analysis, By Country, 2021 and 2028 (%)
          • U.K.
          • Germany
          • Italy
          • France
          • Spain
          • Russia
          • Rest of Europe
      • Asia Pacific
        • Regional Trends
        • Market Size and Forecast, By Functionality Type, 2021-2028(US$ Million)
        • Market Size and Forecast, By Sales Channel, 2021-2028(US$ Million)
        • Market Share Analysis, By Country, 2021 and 2028 (%)
          • China
          • India
          • Japan
          • Australia
          • South Korea
          • Rest of Asia Pacific
      • Latin America
        • Regional Trends
        • Market Size and Forecast, By Functionality Type, 2021-2028(US$ Million)
        • Market Size and Forecast, By Sales Channel, 2021-2028(US$ Million)
        • Market Share Analysis, By Country, 2021 and 2028 (%)
          • Brazil
          • Mexico
          • Argentina
          • Rest of Latin America
      • Middle East and Africa
        • Regional Trends
        • Market Size and Forecast, By Functionality Type, 2021-2028(US$ Million)
        • Market Size and Forecast, By Sales Channel, 2021-2028(US$ Million)
        • Market Share Analysis, By Region/Country, 2021 and 2028 (%)
          • GCC Countries
          • South Africa
          • Rest of the Middle East and Africa  
  8. Competitive Landscape
    • Company Profiles
      • Huawei
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Lenovo Group Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • LG Electronics
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Microsoft
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Motorola
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Oppo Co. Ltd
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Royole
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Samsung
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Sony
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • TCL
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
      • Xiaomi
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Key Strategies
        • Recent Developments/Updates
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse market data tables and figures on ‘Foldable Smartphone Market – Global forecast to 2028’

FAQgrowicon

Frequently Asked Questions

The features of global foldable smartphone market include two displays that connects with hinges and unfold like a book, more screen place which allows two applications to run on two different screens.
The key players operating in the market include Huawei, Lenovo group Ltd., LG Electronics, Microsoft, Motorola, Oppo Co.Ltd, Royole, Samsung, Sony, TCL, and Xiaomi.
The factors that are influencing growth and development of the global foldable smartphone market include a large-screen tablet combined with the portability of a smartphone, growth in demand for advanced consumer electronics combined with high adoption in entertainment and gaming industries.
The market was valued at US$ 15.83 Bn in 2021.
High cost of advanced technology is one of the factors hampering the growth of the market.
Increase in demand for advanced consumer electronics combined with high adoption in entertainment and gaming industries as well as rising demand for Phablet are the factors driving thegrowth of the market.
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