Another smartphone player to enter the foldable race this year

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Barcelona. As the race for the foldable phone heats up, another smartphone player is entering the fray, aiming to take on the pinnacle experience of today’s foldable market.

During the ongoing MWC 2023, global technology brand OnePlus has announced that it will launch a foldable smartphone in the second half of 2023.

At the event, Kinder Liu, President and COO of OnePlus, said, “Our first foldable phone will have the signature OnePlus fast and smooth experience. It should be a flagship phone that is organized in terms of industrial design, mechanical technology and other aspects due to its folding form. Does not happen.”

Samsung currently dominates the foldable smartphone market.

Global foldable smartphone shipments are expected to grow by 52 percent (y-o-y) to reach 22.7 million units in FY2023.

According to Counterpoint Research, the key drivers will be Samsung and Chinese original equipment manufacturers (OEMs) looking to make a mark, especially in Europe and China.

According to Counterpoint Research, the key drivers will be Samsung and Chinese original equipment manufacturers (OEMs) looking to make a mark, especially in Europe and China.

For fiscal year 2022, global foldable shipments will reach 14.9 million units. Cumulative shipments grew 90 percent year-over-year to 9.5 million units in the third quarter of 2022 from the first quarter.

According to Tarun Pathak, director of Counterpoint’s global smartphone practice, “The numbers are small in the context of the broader market, but looking at the ever-important ultra-premium segment ($1,000 and above), we are seeing foldables debut.” “

“In that category, foldables hit double-digit shipment shares this year and we expect it to exceed 20 percent in 2023,” he added.

The global folding market will witness strong competition in 2023 as more Chinese OEMs are expected to enter the space.

However, Samsung will continue to lead the market. Honor, Motorola and Xiaomi are expected to enter the foldable smartphone market outside China, the report said.(IANS)

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