Increasing demand for foldable smartphones in India
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As consumers' demands and expectations have changed, smartphones have undergone a drastic transformation in the last decade. According to current trends, foldable smartphones will register a massive 638 percent growth in sales in India by 2021 and will sell a record 3 lakh units by 2022.
Samsung will be one of the leading companies involved in the foldable smartphone industry, with revenues expected to grow by 60 percent next year. According to data provided by market research firm Techarc, several more original equipment manufacturers (OEMs) are expected to launch foldable smartphones in 2022.
The intent of purchase in the luxe category (above Rs 50,000) is not just about utility but also about the statement. Foldable smartphones provide the right balance between utility and style and will definitely increase return on investment." says Faisal Kawoos. founder and chief analyst, Techarc
In the past three years, Samsung has been offering the only foldable smartphone on the market. In 2021, it introduced both the Galaxy Z Fold and the Galaxy Z Flip. Both have received positive reviews, though the foldable form factor has proved difficult.