Admin Source : Gadgets 360
Foldable smartphones market share in the ultra-premium segment, priced above Rs. 45,000 apiece, is expected to grow more than four times to 35 percent in India, Counterpoint Research said on Friday.
Foldable smartphones market share in the first half of 2023 stood at about 8 percent, the market research firm said.
“In 2023 (till June), Foldables constituted 8 per cent of ultra-premium (over Rs. 45,000) Android smartphone shipments, a number projected to surge to 35 percent by the end of 2025,” Counterpoint Research said in a report.
According to the research firm’s estimate India’s Foldable Smartphone accounts for only about 1 percent of the overall mobile market in India.
The report said clamshell smartphones among the foldable designs are particularly favoured by female users, accounting for 82 percent of total foldable shipments in the first half of 2023 due to their affordability.
“Localisation of manufacturing, exemplified by flagship devices like Samsung Z Fold 5 and Flip 5 being produced in India, is fuelling the market’s growth,” Counterpoint said.
The market research firm estimates that the anticipated entry of more mobile phone makers into the foldable space will further invigorate the market.
Notably, Korean smart devices major Samsung will manufacture its premium flagship devices Galaxy Z Fold 5 and Galaxy Z Flip 5 in India to meet local requirements, a senior company official said on Thursday. Samsung plans to launch the most expensive and high-end devices from its stable in India on August 18 and the pre-booking with offers will start at midnight of July 27.
“Both Galaxy Z Fold 5 and Galaxy Z Flip 5 will be manufactured at India factory in Noida,” Samsung SouthWest Asia President and CEO J B Park said.
According to market research and analysis firm Techarc estimates, foldable (including flip) smartphones will contribute over 1.8 percent of the total smartphone revenues for 2023. The estimate implies over 6.35 lakh foldable smartphones will be sold in India during the year which will be less than 0.5 percent of the total sales by volume estimated for the period.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
