NEW DELHI: What is foldable phone?
Foldable smartphone is a recent entrant in the luxury segment, which has sparked quite a lot of excitement. Foldable phones come in two variants—H-fold (flip smartphones) and V-Fold (fold or book fold smartphones). These phones stand out themselves from the iPhone, which remains the aspirational brand for most users. Why people like it Potential customers are drawn to foldable smartphones thanks to the ease of content consumption they offer.
Niche, growing market
According to a study by Techarc, the foldable smartphones, including flip smartphones, are projected to contribute more than 1.8% of the total smartphone revenues in 2023. This will be achieved through the sale of over 635,000 foldable smartphones during the year. However, in terms of sales volume, these devices are expected to account for less than 0.5% of the total sales estimated for the period. The form factor appears to be a big hit and foldable smartphones are expected to surpass the one-million mark in annual sales by 2025 and two million by 2028.
High-end but affordable
The study suggests that affordability will be a key driving factor for the growth of foldable smartphones in the coming years in India. The foldable phones priced below Rs 80,000 may attract customers who are currently using other high-end phones. It means lowering the price point of foldable smartphones could invite consumers to consider and adopt this new smartphone.