Foldable Smartphones Will be Next Big Thing in India

Smartphones have evolved significantly in the previous decade to satisfy evolving consumer wants and expectations. With the current trend, foldable smartphones are predicted to have a tremendous 638 percent increase in sales in India in 2021, and a record 3 lakh unit sales in 2022. According to data provided by market research firm Techarc, foldable smartphone revenues are expected to grow by 60% next year, translating to Rs 3,200 crore for the industry, which will include Samsung and a few more original equipment manufacturers (OEMs) who are expected to launch their foldable smartphones in 2022.

"In the luxury category (above Rs 50,000), the intent of purchase is not only utility but also statement." Foldable smartphones strike the right balance of utility and style in the luxury segment, and they will undoubtedly increase the segment's return on investment," Faisal Kawoosa, founder and chief analyst at Techarc, told IANS. For the previous three years, Samsung has been the sole OEM selling commercially available foldable smartphones. In 2021, it will release the third generation Samsung Galaxy Z Fold as well as the Samsung Galaxy Z Flip. Both have had positive market responses, albeit the folding form factor outsells the flip form factor.

OPPO, a smartphone manufacturer, has now introduced its first foldable phone, the 'Find N.'

With folding phones, smartphone technology has entered an era of endless invention, according to Tasleem Arif, Vice President and Head of R&D at OPPO India. "Previously, the display panel was the focus of smartphone evolution; however, in an age where everyone has a phone with the same features, manufacturers are discovering a means to break past the bottleneck of smartphone displays," said Arif. He noted that India's ever-growing population of tech aficionados is actively testing and discussing innovative form factors such as rollable and foldable.

At least a few unique foldable phones are expected to be released in 2022. In addition to Samsung, Huawei, and OPPO, Apple is said to be working on a foldable iPhone.
"According to recent industry reports, foldable smartphone shipments will more than double by 2023." Dual-purpose smartphones are projected to grow in popularity in India, particularly among millennials, said ku Jain, Managing Director, MediaTek India.

Consumers in the premium smartphone category regard their devices as status symbols.

"They want to be seen as having the latest and best technology, including foldables.The mainstreaming of foldable form factors, primarily in terms of device durability, water resistance, and more affordable pricing, is driving this shift in consumer mindset," said Prabhu Ram, Head-Industry Intelligence Group, CMR. "With new market participants entering the battle with their foldable phones in 2022 and beyond, we anticipate the luxury smartphone segment in India would witness a boom," Ram told IANS.

"As a result of this, many important smartphone players are preparing to offer foldable phones powered by cutting-edge technologies in the near future." Smartphones are part of the high-end rivalry, and the future of foldable smartphones looks promising, not just in India but globally," said Sanjay Gupta, VP and Managing Director of NXP Semiconductors.

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