Global foldable phone market expected to grow 10 times by 2023, report says

Global foldable phone sales are expected to triple this year compared to 2020 and grow 10 times by 2023, according to a report published by market research firm Counterpoint on August 5.

Counterpoint expects about 9 million foldable phones to be shipped in 2021, giving Samsung an 88 percent market share, and Samsung is expected to maintain a 75 percent market share by 2023.

If Apple also launches its first new foldable phone in 2023, it could drive the entire chain to scale, the report said.

With the upcoming release of the Samsung Galaxy Z Fold3/Flip3 models, shipments of foldable phones could grow significantly, the report said.

Counterpoint also said that the upcoming Samsung Z Flip3 is priced right and it will appeal to younger users. The Z Fold3, with confirmed support for the S Pen stylus, will also absorb current Note series users.

Samsung is expected to make up for Huawei's gap in the high-end market with the new Samsung foldable, despite its small sales share in China.