New Delhi: The foldable (including flip) smartphones are likely to contribute over 1.8 percent of the total smartphone revenue in India this year, reaching over Rs 6,300 crore in India, a report showed on Wednesday. This is expected to be achieved by selling over 6.35 lakh foldable smartphones during the year.
This translates to less than 0.5 percent of the total sales by volume estimated for the period, according to market research firm techARC. The foldable form factor is expected to cross the 1 million mark of annual sales in 2025, which will double in 3 years by 2028. (Also Read: Invest Little, Earn A Lot: Start This Business From Home, Earn High-Profit Margin Of 50%)
“Affoldable” (affordable+foldable, priced at less than Rs 80,000) will be a key factor driving this growth in the coming years. In 2023, these are already expected to contribute more than half (52 percent) of the total sales in unit terms, said the report. (Also Read: Used To Watch Formula 1 Race On TV As A Kid, Now A Professional Motorsport Enthusiast)
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The market is divided into two variants of H-fold (flip smartphones) and V-Fold (fold or book fold smartphones). “As per our estimates, 64 percent of the sales during 2023, will be flip smartphones,” the report mentioned.
The current options for customers in India to buy include Motorola Razr 40 Ultra, and Motorola Razr 40. OPPO Find N2 Flip, Tecno Phantom V Fold, Samsung Galaxy Z Fold 4, and Samsung Galaxy Z Flip 4.
Out of these, Samsung is soon launching its refresh of Fold and Flip smartphones with the 5th generation of foldables giving customers the option to choose from the pioneers in this segment.
“While all the foldable smartphone makers have showcased the quality checks and measures implemented to address the durability concerns of potential buyers, there is a need to increase the awareness and spread more information about the making of and engineering behind the foldable smartphones,” the report noted.