Canalys: Foldables to reach 30 million yearly shipments by 2024
The latest Canalys report has some bold predictions for the foldable smartphone market in the near future. The early forecast suggests a yearly shipment rate of 30 million foldables in 2024 meaning a compound annual growth rate (CAGR) of 53% between 2021 and 2024. At the same time, Canalys expects the average selling price (ASP) of foldables to drop in half from 2019 values to around USD1,000 in 2024.
The foldable segment saw a 148% growth on the per-year basis for 2021 with an estimated total of 8.9 million shipments for 2021. For comparison, the regular smartphone market grew by 7 percentage points for the same period. Premium Android phone shipments have seen an 18% decrease compared to the values in 2019 so Android makers will try and ramp up demand with new foldables offerings in order to battle with Apple which saw a 68% increase in the same period.
( Details and picture courtesy GArena, the content is auto-generated from the news agency feed.)
