Foldable phone sales will increase by 53 percent in 2024 compared to 2021, according to a new report.
The number of foldable phones is increasing day by day. Foldable devices, which were deemed unnecessary by many when they were first released, are now becoming a logical choice for everyone.
In particular, Samsung’s annual launch of foldable phones keeps the market alive. The devices, which made a lot of progress compared to when it was first introduced, began to reach high sales figures. In 2024, sales of foldable devices will double from what they are now, according to a newly released report.
Foldable phone sales will double in 2024!
Sales of foldable phones will boom in the coming years, according to the latest report from Canalys. Foldable devices, which appeared a few years ago, are expected to reach 30 million annual sales in 2024. This suggests a 53 per cent increase between 2021 and 2024.
Looking at the data in 2021, we see that 8.9 million foldable phones were sold. According to the data, there was 148 percent year-on-year growth compared to 2020. Considering that regular smartphone sales are growing by only 7 percent year-on-year, this rate is really impressive.
Another important aspect of foldable devices is their prices. Unfortunately, due to the high cost of manufacturing the devices, prices are twice as high as normal devices. In 2024, foldable phone prices will average around $1,000, according to the published report.
The biggest reason for the increase in foldable devices is the decreases in Android premium device sales. According to 2019 data, Android premium phone sales fell 18 percent. On the Apple side, there was a 68 percent increase. This prompted Android manufacturers to go beyond normal products and produce foldable phones.