Overall foldable shipments grew 141 per cent (year-on-year) in India until August this 12 months, a report has proven, as the general foldable market os set to develop at a CAGR of 56 per cent to succeed in 6.3 million models by 2027.
For the 2023-2024 interval, the general foldable market is predicted to witness 84 per cent development (on-year).
Increasing localisation of foldables, together with flagship units such because the Samsung Z Fold 5 and Flip 5, in addition to Tecno foldables will steer the expansion of the market, in keeping with the info by market analysis agency CyberMedia Research (CMR).
With foldable units changing into more and more accessible and inexpensive to a broader client base, CMR estimates that foldables priced between Rs 60,000 and Rs 75,000 will develop at a CAGR of fifty per cent in India from 2024 to 2026.
“With increasing democratisation of the fold and flip form factor, we estimate a positive long-term growth trajectory for the Android foldable market,” stated Prabhu Ram, Head–Industry Intelligence Group, CMR.
Samsung foldable shipments secured a 74 per cent market share within the Indian smartphone market until August.
Tecno Phantom V Fold foldable shipments captured 10 per cent market share and Oppo Find N2 Flip foldable shipments captured 2 per cent market share within the Indian smartphone market.
Global tech model OnePlus can also be set to launch its first foldable flagship telephone, OnePlus Open, on October 19.
Super premium and above (Rs 50,000 and above) smartphone market section noticed 93 per cent development (on-year), the report talked about.
“With increasing technology maturity, and with intent to gain early foldable market leadership, more smartphone brands will seek to enter the foldable fray, and mainstream foldables,” stated analyst Shipra Sinha.
(This story has been edited by News18 workers and is printed from a syndicated news company feed – IANS)
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