Samsung launched its latest Galaxy Z Fold 4 and Galaxy Z Flip 4 foldable smartphones in India earlier this month. India and around the world. After Samsung, Xiaomi unveiled its Mix Fold 2 foldable smartphone, and Motorola took the wraps off its 2022 Moto Razr flip phone. With many new options in the market, a report by Counterpoint Research says that the foldable smartphone market could grow by up to 75 per cent this year.
According to the report, the foldable smartphone segment is expected to have 16 million shipments this year, which is 75 per cent higher than last year’s 9 million shipments. The report also noted that during the first half, Samsung led the foldable category with its Galaxy Z Fold smartphone, followed by Huawei and Oppo in the global markets. Samsung garnered 62 percent market share in the segment, and is expected to jump to 80 percent this year, with the new Galaxy Z Fold 4 and Flip 4 devices now in global markets.
“Foldables not only bring new design to smartphones – traditionally governed by the bar-type form factor – but also more screen real estate. With the expansion of smartphone use cases, a senior analyst at Counterpoint Research said in the report, Its importance is increasing especially in media, entertainment and work.
Samsung’s dominance in the foldable segment also comes from the lack of competition. Samsung Galaxy Z Fold 4 and Galaxy Z Flip 4 are the only devices sold in the global markets. While brands like Vivo, Xiaomi, Oppo, Huawei and others have foldable smartphones, their sales are mostly limited to the Chinese markets. Motorola’s Moto Razr 2022 has also been launched only in China currently, but in its previous generations, the Moto Razr didn’t last as long in the global markets as the Samsung Galaxy Z Flip.
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