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Foldable phone shipments estimated to surpass 30 million in 2024

By Cookie Monster - on 17 Feb 2022, 12:00am

Foldable phone shipments estimated to surpass 30 million in 2024

Like it or not, foldable phones are here to stay and the market growth is expected to be significant over the next two years.

Research firm Canalys predicts that foldable phone shipments will exceed 30 million in 2024, which equates to a compound annual growth rate (CAGR) of 53% between 2021 and 2024. 

For 2021, foldable phone shipments hit 8.9 million which are mainly driven by the Samsung Galaxy Z foldable devices. Canalys believes the key catalyst for foldable phones is the growing popularity of big-screen devices during the pandemic. 

Moving forward, consumers can expect to see thinner and lighter foldable phones at lower prices. Aside from innovative engineering solutions and product designs, Canalys says the software user experience is also important to drive mass-market adoption.

Source: Canalys

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