Canalys, a leading global technology market analyst firm, released a report with some bold predictions for the future of the foldable smartphone market. The early forecast suggests an annual shipment rate of 30 million foldable handsets by 2024, resulting in a compound annual growth rate (CAGR) of 53% between 2021 and 2024.
Canalys expects the average retail price (ASP) of foldable smartphones to halve from its 2019 value to about $1,000 by 2024.
The foldable segment grew 148% year-over-year for 2021 with an estimated total of 8.9 million shipments. While the regular smartphone market grew by 7 percentage points in the same period.
Shipments of premium Android phones are down 18% compared to 2019. Android makers are likely to try to ramp up demand with new foldable devices to keep pace with Apple, which saw a 68% increase over the same period. .
The post Foldable Phones Will Be Extremely Popular in 2 Years: Canalys appeared first on .
