Canalys More than 30 million flexible display smartphones will be

Canalys: More than 30 million flexible display smartphones will be sold in 2024

According to Canalys forecasts, the compound annual growth rate of flexible display smartphone shipments between 2021 and 2024 will be 53%, with sales exceeding 30 million units in 2024. From 2019, when the first major model of this type was presented, by 2024, the growth rate will be about 122%.

Image source: Samsung

Image source: Samsung

Sales in the Samsung-dominated foldable smartphone market are up 148% year-on-year in 2021 despite high model prices, while the overall smartphone market is up just 7% over the same period.

According to Canalys, one of the main catalysts for the growing demand for such models has been the high demand for devices with large displays during the pandemic and self-isolation. However, the company’s experts expect that the lifting of restrictions will open up new opportunities for smartphone manufacturers in this area and even give new impetus to the market.

Flexible display models could drive smartphone sales and are particularly attractive to users of all-new and/or traditional high-end devices. According to Canalys, premium Android smartphone makers are under quite a bit of pressure as shipments of new products over $800 fell 18% compared to 2019 and sales of iOS models rose 68% – the vendors need to increase their investment in technology improvement and interfaces to continue attracting the highest paying customers.

Image source: Canalys

Image source: Canalys

According to Canalys, the supply ecosystem for smartphones with flexible displays has grown rapidly in recent years thanks to Samsung. There are already many manufacturers of this type of displays themselves, hinges and other key components, and suppliers are introducing new technological solutions while lowering the prices of the models. Another “battleground” is developing competitive software specific to a particular device format – this requires constant investment in software as it is far from ideal.

According to a Canalys spokesman, major smartphone vendors are preparing to compete in this category, which will be an integral part of their high-end strategy and corporate branding. Many new foldable devices are expected to arrive this year, and manufacturers will continue to reduce their thickness, weight, and price in order for the devices to be well received by the mass market.


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Johnson Smith

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