Even if the current foldable smartphone is 1% of the total market size, Samsung currently has the largest share of the pie with its offerings including Galaxy Z Flip and Z Fold series. With that being said, the South Korea-based giant believes that Apple, its biggest competitor, will launch its foldable device in 2024 which is a year before what popular Apple analyst Ming-Chi Kuo quoted a few days ago.
Samsung is confident that Apple foldable device will arrive in 2024
According to a report by TheElec, Samsung’s Mobile Experience (MX) division held a meeting with its component suppliers in mid-October to discuss its foldable smartphone strategy. The executives are confident that Apple will launch its foldable device sometime in 2024. Note that this doesn’t quote iPhones but rather a foldable tablet or notebook that might roll out in two years.
As the report reads, Samsung doesn’t have a lion’s share of the 1% market share of foldable devices out there. The South Korean giant is positive about its growth in the sector with a CAGR up of 80% up to 2025. It states that current foldable phone users are likely to upgrade to a foldable phone as of next year. Apart from that, it has been listed that iPhone users in their 20s and 30s in South Korea have switched to Samsung devices prominently three to four times higher than previously recorded.
Samsung’s recent report contradicts what Kuo believes that the iPhone or iPad with a foldable screen will arrive in 2025. This gives us a period of two to three years when Apple will cut. Although Kuo has a reputation that precedes her, it is Samsung that reported 2024 as the expected timeline. Given the fact that it supplies 82% of the AMOLED panels used on the iPhone 14 series, its statements cannot be taken lightly.
Samsung recently gave us two new foldable smartphones aka Galaxy Z Flip 4 and Z Fold 4. We will get an updated version aka Galaxy Z Flip 5 and Z Fold 5 sometime next year as well. Xiaomi, Oppo, Huawei, and a few other smartphone manufacturers are too in the race against becoming numero uno in terms of foldable devices.
