Foldable smartphone market set to gain momentum in India

NEW DELHI: Smartphones have evolved substantially in the last decade to meet the changing demands and expectations of the consumers. With the current momentum, foldable smartphones are set to witness a massive 638 per cent jump in sales in India in 2021, and are expected to touch a record 3 lakh units sales in 2022.

The foldable smartphone revenues are expected to grow by 60 per cent next year, translating to Rs 3,200 crore for the industry that will include Samsung and a few more original equipment manufacturers (OEMs) which are expected to launch their foldable smartphones in 2022, according to data provided by market research firm Techarc.

"In the luxe category (above Rs 50,000), the intent of purchase is not just utility but it's also about statement. Foldable smartphones make the right balance of utility and style in the luxe segment and definitely increase the return on investment for the segment," Faisal Kawoosa, founder and chief analyst, Techarc, told IANS.

Samsung is the only OEM offering commercially available foldable smartphones for the past three years. It launched the third generation Samsung Galaxy Z Fold as well as Samsung Galaxy Z Flip in 2021. Both have seen good response from the market, though the foldable form factor sells more than the flip form factor.

Now, smartphone manufacturer OPPO has unveiled its first foldable phone, 'Find N'.

According to Tasleem Arif, Vice President and Head of R&D at OPPO India, smartphone technology has entered an era of limitless innovation with folding phones.

"Previously, the focus of smartphone evolution was on the display panel; however, in an age where everyone has a phone with the same features, manufacturers are finding a way to break through the bottleneck of smartphone displays," said Arif. (IANS)

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