Foldable phone shipments expected to double in 2024; Chinese brands challenge Samsung's dominance
With shipments predicted to quadruple annually, Samsung is anticipated to maintain its leadership in the foldable phone industry in 2024. The Korean brand, which commanded an 83% market share the previous year, is predicted to maintain its leadership because of supply chain cost reductions and a lack of confidence in Chinese brands. It's also anticipated that other brands like OnePlus, Motorola, and Oppo would encounter fierce rivalry. Premium foldable device demand is being driven by increased productivity, gaming, content production, and consumption. "The largest obstacle for Chinese players is pricing. With the exception of OnePlus, Chinese firms have not officially offered any products exceeding $600-700. Foldables typically retail for between $1200 and $1300. Thus, there is a large delta for them to cross, according to Pathak. The firms are choosing to finance their products in order to improve their appeal to Indian consumers. Long-term financing plans are being offered by companies like OnePlus to promote their foldable phones, which are priced higher than Rs 1 lakh.
