The popularity of foldable smartphones is on the rise, and this upward trend is expected to continue in the coming years. According to a recent report by Counterpoint Research, the market share of foldable smartphones in India’s ultra-premium segment, which includes devices priced above Rs. 45,000 apiece, is predicted to quadruple by 2025. In the first half of 2023, foldable smartphones held a market share of approximately 8 percent in India. This number is expected to grow exponentially in the next four years and reach an impressive 35 percent. This significant increase in market shares the growing demand and appeal of foldable smartphones among Indian consumers.
Foldable smartphones offer a unique and innovative design that allows users to fold and unfold their devices, transforming them from a compact form factor into a larger tablet-like experience. This flexibility gives users the best of both worlds, providing the convenience of a compact phone and the functionality of a tablet. The Indian smartphone market is highly competitive, and manufacturers are constantly striving to provide consumers with the latest and most advanced technologies. As the demand for larger screens and better multitasking capabilities increases, foldable smartphones present an attractive option for tech-savvy consumers.
In addition to their versatile design, foldable smartphones also offer other benefits. They often come with state-of-the-art features such as high-resolution displays, powerful processors, and advanced camera systems. These features, combined with the ability to fold and unfold the device, make foldable smartphones a premium choice for smartphone users who value both style and functionality. Furthermore, as the market matures and more manufacturers enter the foldable smartphone segment, the prices of these devices are expected to become more affordable. This will make foldable smartphones accessible to a larger consumer base and further contribute to the growth in market share.
Despite their increasing popularity, foldable smartphones still face some challenges. The folding mechanism and associated technology require careful engineering to ensure durability and reliability. Additionally, the high price point remains a barrier for many consumers. However, as technology advances and manufacturing techniques improve, these challenges are likely to be overcome.
The foldable smartphones market in India is poised for significant growth in the coming years. With a quadrupling of market share predicted by 2025, these devices are set to become a prominent segment in the ultra-premium smartphone market. As more consumers recognize the benefits and appeal of foldable smartphones, manufacturers will continue to innovate and bring exciting new devices to the market.