Foldable Phone Shipments Gradually Rise, Market Penetration Expected to Reach Nearly 5% by 2028
June 4, 2024 | TrendForceEstimated reading time: 1 minute

TrendForce reports that shipments of foldable phones are expected to reach 17.8 million units in 2024, making up only 1.5% of the smartphone market. Despite high repair rates and costs, market penetration is projected to climb to 4.8% by 2028.
Samsung, a trailblazer in the foldable phone market, commanded over 80% of the market share in 2022. However, with increasing competition from various brands in 2023–2024, Samsung’s share dropped from 60% and it now struggles to maintain 50%.
Huawei made significant strides with its 4G Pocket S in 2023, boosting its market share to 12%. In 2024, Huawei released upgraded 5G models like the Mate X5 and Pocket 2. Additionally, they are set to launch the world’s first tri-fold phone in Q3, which could potentially raise their market share to nearly 30%.
Pricing advantage helps Motorola and Nubia stand out in the 2024 foldable phone market
Other brands like Xiaomi, Oppo, and Vivo struggled to grow their foldable phone sales, with each falling below 1 million units. Meanwhile, Motorola made a strong entrance with its Razr 40 and Razr 40 Ultra—priced between CNY 3,999 to 5,699—and likely to exceed 1 million units while capturing a 6% market share.
One key factor attracting customers to foldable phones is pricing, prompting brands to focus on boosting display performance, and reducing creasing, while also cutting overall costs. Chinese brand Nubia launched the Nubia Flip in Japan this year at a competitive US$499. Besides Japan and China, Nubia has started pre-sales in various markets, with promising sales prospects. TrendForce notes that the Nubia Flip likely uses hinges from Chinese suppliers and foldable OLED panels from Chinese panel makers, significantly lowering product costs to achieve a competitive price point.
Rumors about Apple entering the foldable phone market continue to circulate. TrendForce notes that Apple is still evaluating component specifications and performance, with strict requirements for crease and reliability. Apple is unlikely to release a foldable phone before 2027, but its entry could significantly shift market dynamics.
Testimonial
"In a year when every marketing dollar mattered, I chose to keep I-Connect007 in our 2025 plan. Their commitment to high-quality, insightful content aligns with Koh Young’s values and helps readers navigate a changing industry. "
Brent Fischthal - Koh YoungSuggested Items
Nordson Corporation Announces Earnings Release and Webcast for Third Quarter Fiscal Year 2025
07/31/2025 | Nordson CorporationNordson Corporation today announced it will release third quarter fiscal year 2025 earnings on August 20, 2025, after the close of the market.
SES AI Accelerates Timeline for Revenue Growth and Profitability with Acquisition of UZ Energy
07/31/2025 | BUSINESS WIRESES AI Corporation, a global leader in the development and manufacturing of AI-enhanced high-performance Li-Metal and Li-ion batteries, today announced it has executed a definitive agreement to acquire 100% of UZ Energy, an energy storage systems (“ESS”) provider, for a purchase price of approximately $25.5 million, subject to earnout adjustment based on the achievement of specified financial targets.
Dan’s Sales Guide: Master Your Sales Game in 2025 and Beyond
07/30/2025 | Dan Beaulieu, D.B. Management GroupIndustry veteran Dan Beaulieu has compiled more than 80 of his favorite sales tips and suggestions to help you create your own sales and marketing playbook. “I’ve been in this business for over 40 years, and I’ve seen companies spend hundreds of thousands of dollars on equipment, expand factories, rebrand multiple times, and hire consultants until the parking lot is full,” Dan says. But when it comes to time for companies to invest in something that will actually grow their revenue, Dan has found that their sales and marketing strategies aren’t as strong as they should be. However, there's a solution.
From Attraction to Action: Where Marketing Ends and Sales Begins
07/29/2025 | Brittany Martin, I-Connect007Before a PO hits the system, marketing has already done a lot of heavy lifting. Without strategic marketing, the PO might never arrive. At I-Connect007, we have been fortunate to help many companies achieve sales success through marketing. The key to success? Understanding how marketing leads to sales.
I-Connect007 Editor’s Choice: Five Must-Reads for the Week
07/25/2025 | Marcy LaRont, I-Connect007In industry news this past week, I’m putting a focus on sustainability in electronics by highlighting my interview with Kelly Scanlon and Corey Dehmey, and Nolan Johnson’s Meet the Author podcast with Beth Turner of MacDermid Alpha Electronics Solutions. I also chose to spotlight the M&A activity and outlook in the U.S. market and regional market news in India and Mexico.