The foldable smartphone market in India is expected to generate sales of over Rs 6,300 crore this year, contributing more than 1.8 per cent to the total revenue of the smartphone industry. Market research firm techARC predicts that approximately 6.35 lakh foldable smartphones will be sold in India in 2023, accounting for less than 0.5 per cent of the total sales volume, according to a recent report.
A projected doubling of sales throughout the following three years, by 2028, puts the foldable form factor on track to achieve one million annual sales by 2025.
The advent of “affordable” foldable smartphones priced less Rs 80,000 is one of the major contributors to this growth. By 2023, according to the analysis, cheap options will account for more than half (52 per cent) of all sales in terms of unit volume.
The foldable smartphone market in India can be categorised into two variants: H-fold (flip smartphones) and V-fold (fold or book fold smartphones). The report suggests that flip smartphones will account for 64 per cent of the sales in 2023.
Other models such as Motorola Razr 40 Ultra, Motorola Razr 40, OPPO Find N2 Flip, Tecno Phantom V Fold, Samsung Galaxy Z Fold 4, and Samsung Galaxy Z Flip 4 are currently available to Indian consumers. The fifth generation of foldable technology will be featured in updated models of Samsung’s Fold and Flip smartphones, giving users options from major innovators in this market.
While foldable smartphone manufacturers have made efforts to address durability concerns and showcase quality checks, the report emphasises the need for increased awareness and information about the manufacturing and engineering aspects of foldable smartphones.
The increasing demand for cutting-edge technologies and novel form factors among customers is reflected in the soaring sales of foldable smartphones in India. Foldable smartphones are anticipated to become increasingly more popular in the years to come as their price and durability improve, changing the Indian smartphone market’s structure.