Foldable cellphone shipments set to develop

NEW DELHI : Foldable cellphone shipments are more likely to develop 20-30% in 2023, following an over 50% progress this calendar yr from the yr in the past, each globally and for the home market.

“Although foldable cellphone shipments might develop 20-30% subsequent yr, they continue to be small in general numbers, accounting for simply over 2% of smartphone shipments priced at ₹30,000- plus in India,” a senior business official mentioned.

Market analysis agency Counterpoint, in its annual report, ‘Global Foldable Smartphone Market Forecast, Q3 2022’, mentioned FY23 is more likely to shut with 52% annual progress at 22.7 million, globally. However, whereas shipments to India grew consistent with the worldwide tempo of progress, foldable smartphones stay a really small a part of general shipments. Industry executives mentioned round 400,000 foldable items have been shipped to India in 2022.

According to Prachir Singh, senior analysis analyst, Counterpoint, the Indian premium smartphone market accounted for “10-11% of the general market” as of the September quarter. Counterpoint’s quarterly data showed 45 million smartphones were shipped in India during the period. Singh said the market share of foldable phones is not likely to drastically change in 2023. “India’s average selling price for smartphones is still $245 (approx. ₹20,300), while foldable phones are priced at a lofty niche,” he mentioned.

Foldable telephones bought a double-digit market share within the ultra-premium phase (above $1,000) globally, Tarun Pathak, director, world smartphone follow, Counterpoint, mentioned. “We anticipate it to rise to above 20% in 2023,” he added.

Counterpoint’s report noted that while Samsung will continue to lead the foldable phones market next year, China-headquartered brands such as Honor, Motorola, Xiaomi, Huawei, Oppo and Vivo are likely to contribute to increasing competition and falling prices through next year.

However, despite this growth in foldable smartphone shipments, the overall smartphone market has remained muted — and marked 2022 as a year of multiple sequential shipment declines.

The September quarter, typically seen as the strongest shipment quarter for smartphone vendors in India, witnessed a “first ever” annual cargo decline this yr with an 11% decline. Industry specialists famous points resembling higher-than-ever-before inventories of as much as 10 weeks, coupled with falling buyer demand amid inflationary issues, have been behind the decline of smartphone shipments in India.

Even amid this decline, the premium market noticed a surge in shipments — pushed by festive season offers in gadgets of manufacturers resembling Apple, Samsung and OnePlus. According to Counterpoint’s November 4 report on the September quarter, the premium phase reached its highest-ever market share in India with 12% — 1 / 4 when Apple’s iPhone 13 grew to become probably the most shipped smartphone in India

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