Foldable smartphones market share within the ultra-premium phase, priced above Rs. 45,000 apiece, is anticipated to develop greater than 4 occasions to 35 % in India, Counterpoint Research mentioned on Friday.
Foldable smartphones market share within the first half of 2023 stood at about 8 %, the market analysis agency mentioned.
“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 mentioned in a report.
According to the analysis agency’s estimate India’s Foldable Smartphone accounts for less than about 1 % of the general cellular market in India.
The report mentioned clamshell smartphones among the many foldable designs are notably favoured by feminine customers, accounting for 82 % of complete foldable shipments within the first half of 2023 as a result of 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 mentioned.
The market analysis agency estimates that the anticipated entry of extra cell phone makers into the foldable area will additional invigorate the market.
Notably, Korean good gadgets main Samsung will manufacture its premium flagship gadgets Galaxy Z Fold 5 and Galaxy Z Flip 5 in India to satisfy native necessities, a senior firm official mentioned on Thursday. Samsung plans to launch the most costly and high-end gadgets from its steady in India on August 18 and the pre-booking with affords will begin 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 mentioned.
According to market analysis and evaluation agency Techarc estimates, foldable (together with flip) smartphones will contribute over 1.8 % of the full smartphone revenues for 2023. The estimate implies over 6.35 lakh foldable smartphones might be bought in India through the yr which might be lower than 0.5 % of the full gross sales by quantity estimated for the interval.
(This story has not been edited by NDTV workers and is auto-generated from a syndicated feed.)
