Foldable smartphones market share within the ultra-premium section, priced above Rs. 45,000 apiece, is anticipated to develop greater than 4 occasions to 35 % in India, Counterpoint Analysis stated on Friday.
Foldable smartphones market share within the first half of 2023 stood at about 8 %, the market analysis agency stated.
“In 2023 (until June), Foldables constituted 8 per cent of ultra-premium (over Rs. 45,000) Android smartphone shipments, a quantity projected to surge to 35 % by the tip of 2025,” Counterpoint Analysis stated in a report.
Based on the analysis agency’s estimate India’s Foldable Smartphone accounts for less than about 1 % of the general cell market in India.
The report stated clamshell smartphones among the many foldable designs are significantly favoured by feminine customers, accounting for 82 % of complete foldable shipments within the first half of 2023 attributable to their affordability.
“Localisation of producing, exemplified by flagship units like Samsung Z Fold 5 and Flip 5 being produced in India, is fuelling the market’s progress,” Counterpoint stated.
The market analysis agency estimates that the anticipated entry of extra cell phone makers into the foldable house will additional invigorate the market.Â
Notably, Korean sensible units main Samsung will manufacture its premium flagship units Galaxy Z Fold 5 and Galaxy Z Flip 5 in India to fulfill native necessities, a senior firm official stated on Thursday. Samsung plans to launch the costliest and high-end units from its secure in India on August 18 and the pre-booking with affords will begin at midnight of July 27.
“Each Galaxy Z Fold 5 and Galaxy Z Flip 5 will likely be manufactured at India manufacturing unit in Noida,” Samsung SouthWest Asia President and CEO J B Park stated.
Based on market analysis and evaluation agency Techarc estimates, foldable (together with flip) smartphones will contribute over 1.8 % of the entire smartphone revenues for 2023. The estimate implies over 6.35 lakh foldable smartphones will likely be offered in India in the course of the yr which will likely be lower than 0.5 % of the entire gross sales by quantity estimated for the interval.
(This story has not been edited by NDTV employees and is auto-generated from a syndicated feed.)
