Samsung, Huawei to release affordable foldable smartphones next year: Report

Samsung was the first major OEM to bring a foldable smartphone to the market. The South Korean brand which has released five iterations of the Galaxy Z Fold flagship currently dominates the foldable market. A new media report says that Samsung is focusing on introducing affordable priced foldables from next year. Meanwhile, Huawei is also reportedly preparing to introduce competitively priced foldable phones next year. Other Android manufacturers are also expected to follow suit. Additionally, two triple-foldable screen phones are also said to be officially launched next year.

according to a report By TrendForce, Samsung and Huawei will introduce more competitively priced foldable phones in the mid-range market next year to help break down price barriers and make foldable phones more accessible. Huawei, which once dominated the foldable phone market, is reportedly working on a triple-foldable screen phone and it could go official before March next year. Two triple-foldable screen phones are expected to be introduced in 2024.

Android smartphone makers have been releasing new foldable phones in recent months. More than 13 foldable smartphones including the Samsung Galaxy Z Fold 5, Galaxy Z Flip 5, OnePlus Open, Oppo Find N3, and Huawei Mate X5 were released in just three months.

According to the report, the lowest price of the foldable phone in 2023 has dropped to CNY 3,659 (approximately Rs. In 2024, more brands may release high-value foldable phone products, which will accelerate the widespread adoption of foldable phones. Additionally, the report said that by the end of 2023, shipments of foldable smartphones could rise to 18.3 million units, a 43 percent increase year-on-year. In 2024, a growth of 38 percent is expected, to about 25.2 million units. By 2027, shipments could grow to 70 million units, capturing about five percent of the global smartphone market.

The report is in line with an earlier leak that claimed Samsung is planning to unveil a Fan Edition version of the foldable phone starting next year. Samsung is said to unveil the Galaxy Z FE model next year after the debut of the Galaxy Z Fold 6 and Galaxy Z Flip 6. It is expected that more Android manufacturers will follow suit, leading to a rapid expansion of the foldable phone market.

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