Smartphones keep evolving. The trends that were common in 2021 are likely to transfer into New Year 2022 with tweaks. Smartphones have seen technologies such as folding display introduced among the premium flagship smartphones.
Smartphones have evolved substantially in the last decade to meet the changing demands and expectations of the consumers. With the current momentum, foldable smartphones are set to witness a massive 638 per cent jump in sales in India in 2021, and are expected to touch a record 3 lakh units sales in 2022.
The foldable smartphone revenues are expected to grow by 60 per cent next year, translating to Rs 3,200 crore for the industry that will include Samsung and a few more original equipment manufacturers (OEMs) which are expected to launch their foldable smartphones in 2022, according to data provided by market research firm Techarc.
With the changed scenario of brand dominance, OEMs are leveraging their authority to flood the market. Most OEMs are focused on creating an ecosystem by also launching other smart devices, including accessories, earphones, smartwatches, and brand-exclusive services. All major brands have their line of smart devices to achieve an ecosystem-like situation. Although, only a handful of the names are succeeding.
Samsung is the only OEM offering commercially available foldable smartphones for the past three years. It launched the third generation Samsung Galaxy Z Fold as well as Samsung Galaxy Z Flip in 2021. Both have seen good response from the market, though the foldable form factor sells more than the flip form factor.
Now, smartphone manufacturer OPPO has unveiled its first foldable phone, ‘Find N’.
The Foldable Smartphone Market is expected to register a CAGR of over 21.3% during the forecast period (2021 – 2026). China is the global manufacturing center for most devices and components. With similar trends on the demand side, the smartphone manufacturing sector has been hit by delayed shipments and weakened development of next-generation products due to the COVID-19 pandemic. Also, the country has witnessed being choked off from suppliers, workers, and logistics networks.
Moreover, owing to the rapidly increasing demand for advanced consumer electronics, coupled with high adoption in the entertainment and gaming sector, the foldable smartphone market is anticipated to witness a significant growth rate during the forecast period.
Foldable smartphones have been set at the forefront of smartphone technology, which became commercialized in 2019. The products combine the attributes of a large-screen tablet with the portability of a smartphone and are expected to attract a huge customer base over the forecast period. Market players, such as Samsung and Huawei, have been setting the trend of this foldable technology by launching newer products in the market.
Moreover, some brands are trying to skim off features, but competition is healthy. Although, it doesn’t look good for the users. Users with limited knowledge of the smartphones trends could easily be confused by the plethora of choices while buying a phone and may end up not buying the “best” one. New Year 2022 will also see metaverse becoming more common and smartphones will come equipped to deal with it.
(With Inputs from IANS & Motor Intelligence)
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