What started as a mobile phone novelty has gained considerable momentum as foldable mobile phone sales reached 7.1 million units in 2021 (a jaw-dropping 264.3 percent increase from 2020), and market researcher IDC says the trend will continue, predicting mobile foldables hitting a market value of $29 billion in 2025.
Most of those gains have come from the success of Korean IT titan Samsung’s flagship foldables, including the Galaxy Z Flip 3 and Fold 3. IDC says foldable devices remain a niche interest, taking a mere .5 percent of the worldwide mobile market in 2021. But the horse is officially out of the barn, so to speak – as IDC predicts a compound annual growth rate of 69.9 percent from 2020-2025 in foldable shipments.
“The recent success of the foldable devices from Samsung has given new life to the category as competitors rush to enter the market,” Anthony Scarsella, a research manager at IDC, said in a statement. “Samsung has proven that there is consumer demand for foldables… We have already witnessed other vendors launching new foldables this year, and we expect more players to attempt to take share away from Samsung as the form factor grows in popularity.