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7/8/2023 4:19:58 AM (MENAFN- Youm7) Global foldable smartphone shipments increased 64% year-on-year in Q1 2023 (Q1 2023) to reach 2.5 million units, according to a report Published by Counterpoint.
According to the Indian TOI website, the numbers are very important because the foldable market rose despite a decline of 14.2% year-on-year in the total global smartphone market during the same period, and according to the report, foldable smartphone markets in almost all major regions showed strong growth. In the first quarter of 2023.
What is driving the global foldable smartphone market?
The report attributes the strong growth in the global foldable market due to the growth in the Chinese foldable market. Although the total Chinese smartphone market declined by about 8% year-on-year in the first quarter of 2023, the foldable market grew, increasing by 117%. On an annual basis to 1.08 million units.
Chief Analyst Jene Park said that in 2023, there will be intense product and price competition among OEMs in the global foldable market due to more aggressiveness. Launching several products.
Will Apple get into the foldable smartphone fray?
According to Park, Apple is still absent from the short-term outlook.
However, since overall consumer response to foldable phones is improving, and Apple is likely to release non-foldable products soon, the brand’s participation in the foldable smartphone market is likely to occur after 2025.
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