New Report States Foldable Smartphones Will Reach 30 Million Units by 2023
The age of foldable smartphones started this year with the release of the Samsung Galaxy Fold and the Huawei Mate X, but the future of foldable phones will hold a lot of improvements. According to the latest report, these foldable handsets are expected to increase in shipments, and with newer technologies introducing better functionality, we might also see a price reduction.
Research Director Says the Price of Foldable Smartphones Will Continue to Remain a Barrier in the Coming Years
Gartner provided a new report this Monday on foldable phones and according to the details, foldable phones will take up 5 percent of the high-end smartphone market by the year 2023, which isn’t far off considering this foldable technology is fairly new. Moreover, the units that will be produced by companies will not be high during the starting phase of their production due to its price point and demand.
Gartner also proposed that foldable units will amount to 30 million by the year 2023. Since companies are planning to cram in more innovative technology into these devices, expect it to popularize in the coming years. We know a number According to Gartner analyst and research director Robert Cozza, he’s outlined the limitations and where foldable smartphones need to improve if they want to stop being a niche product.
“We expect that users will use a foldable phone as they do their regular smartphone, picking it up hundreds of times a day, unfolding it sporadically and typing on its plastic screen, which may scratch quickly depending on the way it folds. Through the next five years, we expect foldable phones to remain a niche product due to several manufacturing challenges. In addition to the surface of the screen, the price is a barrier despite we expect to decline with time. Currently priced at $2,000, foldable phones present too many trade-offs, even for many early technology adopters.”
Some highlights from the Gartner report included that mobile phone growth is expected to return to 1.2 percent in the year 2020, which is a positive sign. However, high-end handsets will continue to decline as shipments are seen to hit a 1.8 billion unit mark in 2019. This will result in a total of a 0.5 percent decline compared to last year. Hopefully, improvements in foldable smartphone technology will introduce better functionality and allow more features for users to take advantage of.
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