Foldable phones have been available for a few years, but sales are nowhere near those of standard bar cellphones. According to the most recent IDC study, foldable shipments will rise significantly in the coming year, with an expected 48.1 million flip and fold products reaching customers in 2027. At that time, the CAGR (compound annual growth rate) of foldables is anticipated to tenfold that of conventional cellphones for the period 2022-2027.
According to the latest IDC study, foldables will have a joint market share of 3.5% by 2027 as opposed to 1.2% in 2022. In four years, the market for foldables is projected to be worth $42 billion.
IDC analysts predict that foldables will ship 21.4 million units in 2023, with reduced ASPs (average selling prices), better durability, and a slew of new releases from various companies all contributing to their popularity.