Smartphone sales have witnessed a global decline over the past nine quarters, according to the latest data reported by Counterpoint.
However, one innovation shows promise: foldable phones.
This new genre of smartphones has the potential to disrupt the prevailing trend, and smartphone companies have come to recognize this.
In the last three months, phone makers have introduced over a dozen foldable Android smartphones, signaling a shift in the industry's focus, and a response to the evolving demands of consumers.
Tech Giants Keep the Flip Phone Market Alive
New to the world of flip phones is the industry giant Google, releasing its first-ever flagship foldable smartphone earlier this year: the Pixel Fold.
In the last few months, Samsung also launched the successors of its Z Fold and Flip series with Galaxy Z Fold 5 and Z Flip 5: two new smartphones that "offer an experience people want that they can’t get on other devices."
Recently, Samsung also announced Galaxy Z Flip 5 Retro which pays homage to the iconic SGH-E700 flip phone released in 2003.
Samsung May Introduce a Budget Foldable Phone in 2024
Samsung is showing no signs of stopping with its line of foldable smartphones, as reports have revealed that the tech giant plans to launch a mid-range flip phone in 2024.
According to a Trendforce analysis, Samsung may launch a more affordable foldable phone in 2024, possibly named Galaxy Z Fold or Z Flip "FE," akin to the Galaxy S23 FE.
The decreasing costs of foldable components, driven by advancing technology and processes, make it likely for folding displays to feature in budget-friendly phones.
However, Trendforce dismisses the possibility of an iPhone foldable version soon, attributing Apple's cautious approach to its commitment to user experience.
Edited by Nikola Djuric