According to Omdia’s “Smartphone Model Market Tracker for the Fourth Quarter of 2021”, by the end of 2021, the cumulative global shipments of folding screen smartphones will reach 11.5 million units, which is an increase since the beginning of 2021. A new record since the launch of the first foldable smartphone in 2019.
Sales of folding-screen smartphones are limited due to their high prices. However, from the second half of 2021, sales have grown rapidly, with full-year shipments in 2021 reaching 9 million units, a year-on-year growth of 309%. Of this, 8 million units were sold in the second half of 2021, accounting for 89% of total shipments in 2021.
Samsung is the largest original equipment manufacturer (OEM) in the foldable smartphone market. So far, Samsung has shipped more than 10 million units, accounting for 88% of the sales of folding screen smartphones, and it is the only brand that has sold more than 10 million folding screen smartphones. Samsung has launched a total of nine folding screen smartphones, and it is currently selling Samsung’s third-generation models.
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Moreover, Samsung’s Galaxy Z-Flip 3 5G shipments reached 4.6 million units, making it the world’s largest-selling foldable-screen smartphone model, accounting for 52% of the total number of foldable-screen smartphones in 2021.
The Galaxy Z-Flip 3 5G has a refreshed design compared to its predecessor, the Galaxy Z Flip 5G, and will sell for $999, which is $380 less than the previous model. Through hardware upgrades and price cuts, Samsung’s Galaxy Z-Flip 3 5G sales in 2021 are 3.5 million more units than the previous-generation Z-Flip (LTE and 5G combined) sales in 2020.
The second-selling foldable smartphone in 2021 is the Galaxy Z Fold 3 5G with 2.5 million units. The Galaxy Z Fold 3 launched at $1,800, which is $200 cheaper than the previous-generation Galaxy Z Fold 2 in 2020. However, the reason why the Z Fold 2 shipped more than 700,000 units in the year of its release in 2020 is mainly that the quality of the product has been significantly improved compared to the previous generation, as well as support for the stylus, and the use of a foldable shape design.
Furthermore, Huawei is the second-largest player in the folding screen smartphone market, with a market share of 10%. Huawei launched folding-screen smartphones in China earlier than other manufacturers and has sold more than one million units so far.
Because the company is still under U.S. sanctions, Huawei is only able to sell 4G phones for the Chinese domestic market. Although Huawei’s Mate X2 is still expensive. Huawei recently launched a new folding-screen smartphone, the P50 Pocket, which is similar in form to Samsung’s Galaxy Z-Flip 3 5G, priced at $1,400 and still only available in China.
Other brands have also tentatively launched folding screen smartphone products. Xiaomi launched its first folding screen, the Mix Fold, in the first half of 2021. Although Xiaomi’s launch price was the lowest among similar models, sales were not satisfactory. Xiaomi plans to launch its second-generation foldable smartphone in the first half of 2022.
OPPO also entered the folding screen smartphone market in the fourth quarter of 2021 with the Find N phone. After Find N was released, consumers responded well and demand exceeded supply.
More and more brands are about to join the competition in this market. Honor released the Honor Magic V in January 2022, and Vivo will also launch its first foldable smartphone in the first half of 2022.
This year, folding-screen smartphones launched by Chinese smartphone brands are expected to remain mainly sold in China’s domestic market, Omdia said. In order to achieve sales growth, the top priority for Chinese companies is to break the low-end image in overseas markets.
Omdia also said that since foldable-screen smartphones are expected to be the highest-end smartphones of all manufacturers in the future, it is unlikely that the foldable-screen smartphone market will enter the general product price segment in the future.
This year, the global folding screen smartphone market is expected to grow significantly from last year, reaching 14 million units. Going further, Omdia expects sales to grow steadily every year, reaching 61 million units by 2026, accounting for 3.6% of the total smartphone market.
