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Foldable smartphone shipments to exceed 30 million in 2024

According to the latest forecast from analyst firm Canalys, shipments of foldable smartphones between 2021 and 2024 will grow by 53% per year and will exceed 30 million units in 2024.

It is predicted that in the year from 2019, when the first foldable devices were released, to 2024, this segment will grow by 122% per year. In 2021, shipments of foldable smartphones reached 8.9 million units. Compared to 2020, the foldable segment grew by 148%, while the entire smartphone market grew by only 7%. The main supplier is Samsung.

“Foldable form factors provide vital differentiation for vendors to drive smartphone sales. They are especially appealing to first-timers and high-end buyers,” said Toby Zhu, analyst at Canalys. "Android device vendors are under a lot of pressure in the premium segment as shipments of smartphones over $800 are down 18% from 2019 levels, while shipments of iOS smartphones are up 68% over the same period."

Foldable smartphone shipments to exceed 30 million in 2024