CHINA: Many businesses are attempting to enter the new smartphone race as the competition for foldable handsets heats up the worldwide market. Now, OnePlus, is about to enter the market, and seeks to dominate the foldable industry.
The Chinese tech juggernaut OnePlus announced its entry into the foldable smartphone category at MWC 2023, and it is anticipated to do so this year, in the second half of 2023.
Lei Liu, President and COO of OnePlus, spoke at the ceremony and said, “The first foldable phone from OnePlus will function quickly and fluidly as usual. In terms of industrial design, mechanical technology, and other factors, it must be a flagship phone that doesn’t settle due to its folding form.”
Samsung now holds the majority of the foldable smartphone industry due to the popularity of its devices.
Additionally, Oppo recently entered the foldable smartphone race by releasing the Fine N2 Flip device. As of now, the global foldable smartphone shipment is anticipated to increase by 52% (YoY) to 22.7 million units in FY2023.
The main forces behind this market will be Samsung and Chinese original equipment manufacturers (OEMs), who are looking to establish themselves, particularly in China and Europe.
Global foldable shipment volume will total 14.9 million units in FY 2022. In Q1–Q3 2022, total shipments increased by 90% year over year to 9.5 million units.
According to Tarun Pathak, Director of Counterpoint’s global smartphone practise, “the data are low when seen in the perspective of the broader market, but looking at the ever-important ultra-premium segment ($1,000 and above), we’re seeing foldable start to take root.”
“Foldable shipping shares in that category reached double digits this year, and we anticipate that they will surpass 20% in 2023,” he continued. While more Chinese OEMs are anticipated to enter the foldable market, there will likely be more competition in 2023.
Yet Samsung will keep dominating the market. Some reports predicted that HONOR, Motorola, and Xiaomi would seriously pursue the foldable smartphone market outside of China.
The number of participating OEMs will rise, which will lead to an increase in competition in 2023, according to Senior Analyst Jene Park.
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