As the race for foldable smartphones is heating up the global market, a number of brands are working towards getting into the new smartphone race. Another smartphone player is set to enter the segment as OnePlus aims to bring the pinnacle experience to the foldable market. In MWC 2023, the Chinese tech giant announced to foray into the foldable smartphone category and is expected to launch the same this year, in the second half of 2023.
ALSO READ: OnePlus 11R 5G launched for purchase in India: Price, offers and specifications
At the event, Kinder Liu, President, and COO of OnePlus said, "Our first foldable phone will have the signature OnePlus fast and smooth experience. It must be a flagship phone that doesn't settle because of its folding form, in terms of industrial design, mechanical technology, and other aspects."
At present, the foldable smartphone market has been dominated by Samsung, as its foldable handsets have been making the news (you can read our review of the Galaxy Z Flip4 and Galaxy Fold4)
Also, Oppo has recently forayed into the foldable smartphone race by launching the Fine N2 Flip device, but we cannot state much about the device as we have not reviewed the same, but expect it to be decent.
ALSO READ: Beware of LinkedIn recruitment scam: Know how fraudsters are taking advantage
So far, the Global foldable smartphone shipment is expected to grow 52 per cent (YoY) in FY2023 to reach 22.7 million units.
According to Counterpoint Research, the key drivers will be Samsung and Chinese original equipment manufacturers (OEMs) which looks to make their mark, particularly in Europe and China.
For FY 2022, global foldable shipments will reach 14.9 million units. Cumulative shipments in Q1-Q3 2022 grew 90 per cent YoY to 9.5 million units.
"The numbers are tiny when put in the context of the broader market, but looking at the ever-important ultra-premium segment ($1,000 and above), we're seeing foldable start to take hold," according to Tarun Pathak, Director of Counterpoint's global smartphone practice.
ALSO READ: Beware of LinkedIn recruitment scam: Know how fraudsters are taking advantage
"In that category, foldable hit double-digit shipment shares this year, and we expect it to rise above 20 per cent in 2023," he added.
The global foldable market will likely see stronger competition in 2023 as more Chinese OEMs are expected to enter the space, reported IANS.
ALSO READ: ChatGPT taking over human jobs, companies replacing human employees
However, Samsung will continue to lead the market. HONOR, Motorola, and Xiaomi are expected to enter the foldable smartphone market outside China in earnest, said the report.
"In 2023, competition is set to intensify in the global foldable smartphone market as the number of participating OEMs will increase," said Senior Analyst Jene Park.
