Worldwide shipments of foldable smartphones, including flip and fold form factors, are expected to reach 21.4 million units in 2023 from 14.2 million units in 2022, IDC said.
Foldable phone shipments will reach 48.1 million units in 2027 with a compound annual growth rate (CAGR) of 27.6 percent from 2022 to 2027.

Foldables remain in the premium price segments in all regional markets though average selling prices (ASPs) are dropping slightly. The expected drop in ASP of foldable smartphones in 2023 is 6.8 percent. Smartphone makers made investment in software and hardware to improve durability and the overall user experience.

“A 10 percent decline in ASP helped the market grow 75.5 percent in 2022, as foldable devices became more affordable in numerous markets,” said Anthony Scarsella, research manager, Mobile Phones at IDC.

“With the smartphone market declining over 11 percent last year, consumers need new motivation to go out and upgrade to something that can wow them. Foldable devices bring that wow factor and I believe they will continue to grab more headlines and outperform non-foldable smartphones over the next five years,” Nabila Popal, research director with IDC’s Worldwide Tracker team.