Foldable Phones Market Size, Share | Global Forecast [2033]

Foldable Phones Market Overview

Global foldable phones market size is anticipated to be worth USD 10414 million in 2024, projected to reach USD 11966.49 million by 2033 at a 1.6% CAGR.

The foldable phones market has evolved significantly since the introduction of flexible display technology. In 2023 alone, over 18 million foldable smartphones were shipped globally, compared to just 1.3 million units in 2019. This remarkable growth is driven by rapid advancements in display durability, hinge design, and multi-tasking capabilities. The average screen size for foldable phones now exceeds 7.3 inches when unfolded, compared to a standard 6.1-inch display on conventional smartphones. Major manufacturers such as Samsung and Huawei have introduced more than five foldable models each, with battery capacities averaging between 4,000 mAh to 4,800 mAh. With more than 130 patents filed worldwide in 2023 concerning foldable phone hinges and flexible OLEDs, innovation is a central force in this market. Over 23% of premium smartphone users have shown intent to shift toward foldable phones, especially in regions such as Asia-Pacific and North America. With nearly 110 million 5G smartphone users surveyed globally, more than 17 million reported an interest in foldable handsets, highlighting the synergy between foldable form factors and next-gen connectivity.

Key Findings

Top Driver reason: High demand for flexible, large-screen smartphones in compact forms.

Top Country/Region: China accounted for over 43% of global foldable phone shipments in 2023.

Top Segment: In-folding type foldables contributed to more than 60% of all foldable device sales.

Foldable Phones Market Trends

Foldable phones are setting a new benchmark for flagship smartphones. The market has seen a transition from experimental prototypes to robust consumer-ready devices. In 2023, foldable phone shipments grew by 38% compared to the previous year, totaling 18.3 million units globally. The average foldable device now features multi-window support, app continuity, and 120Hz AMOLED screens. More than 70% of new models introduced in 2023 supported stylus input and multitasking functionalities. Consumer surveys show that 62% of users favor foldable phones due to their superior media consumption experience, attributed to the screen-to-body ratio exceeding 89% in most devices. Foldable devices now support storage capacities up to 1TB and RAM configurations of 12GB or more, enabling professional-grade usage. In 2024, approximately 20 new foldable models were introduced globally, with at least 12 of them priced under $1,000, increasing accessibility. The integration of AI cameras with up to 108 MP and multi-lens modules is now standard, with more than 80% of models incorporating advanced image processing. Furthermore, market data shows that over 58% of foldable phone purchases were made online, reflecting the trend toward e-commerce dominance in electronics retail.

Foldable Phones Market Dynamics

DRIVER

Rising demand for compact devices with large display utility

The surge in demand for multitasking devices has fueled the popularity of foldable phones. With over 40% of smartphone users using their devices for work and entertainment simultaneously, foldable phones offer an ideal solution. In 2023, user preference for devices above 7 inches increased by 27%, indicating a shift toward more immersive displays. Nearly 12 million users cited multi-screen capability as a key factor in their purchasing decision. Furthermore, foldable phones reduce the need for carrying tablets or secondary devices, helping increase productivity while maintaining portability. The demand for enhanced user interfaces led to over 18 manufacturers integrating custom UI features for foldables in 2023 alone.

RESTRAINT

Mechanical durability and hinge longevity

Despite improvements, mechanical durability remains a concern. In laboratory tests, most foldable hinges endure between 200,000 to 300,000 folds. However, user complaints have highlighted hinge malfunction rates of around 2.7% within the first year. Over 1.5 million customer service cases were recorded in 2023 related to screen creases and hinge stiffness. These issues have prompted stricter quality assurance processes, increasing the average production cost per unit by 18%. Moreover, repair costs for foldable screens range between $300 to $600, deterring users from adopting the technology despite its benefits.

OPPORTUNITY

Expansion into business and educational applications

The market is witnessing new opportunities in professional and academic use cases. In 2023, over 3.4 million foldable phones were sold to enterprise users globally. Devices with split-screen functionality are being utilized for video conferencing, document editing, and collaboration. In education, nearly 900,000 foldable phones were used for hybrid learning environments, especially in countries like South Korea and the U.S. Integration with cloud computing platforms and high-resolution screens allows students and professionals to multitask seamlessly. This vertical expansion could generate an additional demand of 4 to 6 million units annually over the next few years, especially among the knowledge workforce.

CHALLENGE

High pricing and limited battery optimization

The average price of foldable phones remains 1.5x higher than flagship slab phones. In 2023, 75% of foldable models were priced above $1,200, with only three models introduced below $900. Battery degradation due to dual screens and high refresh rates remains a major concern. Most foldable phones lose 15% more battery over 12 months than conventional smartphones. Additionally, battery replacements are more complex due to folded architectures, with replacement times averaging 45 minutes compared to 25 minutes for traditional phones. This significantly affects adoption in price-sensitive markets, where nearly 70% of consumers prioritize battery life and serviceability.

Foldable Phones Market Segmentation

The foldable phone market is segmented by type and application. These segments allow for product differentiation, marketing focus, and efficient production targeting. The type-based segmentation identifies in-folding and out-folding formats, while the application-based segmentation categorizes usage across home, education, and office environments.

By Type

In-folding Type: In-folding designs dominate the market due to better screen protection and compactness. Approximately 11.2 million in-folding foldables were shipped in 2023, comprising over 60% of total foldable sales. These models offer display sizes ranging from 6.2 inches when folded to 7.8 inches unfolded. Brands like Samsung and Google have integrated ultra-thin glass layers (UTG) to increase durability, tested to withstand over 200,000 folds. Furthermore, in-folding models now support fast charging of 25W or higher and wireless charging up to 15W. Nearly 63% of users indicated a preference for in-folding over out-folding due to screen protection and usability.
Out-folding Type: Out-folding phones contribute to roughly 7 million units in 2023, offering a unique design with a single screen that folds outward. These models provide seamless transitions between phone and tablet modes. Display sizes often exceed 8 inches, and brands like Huawei and Royole have pioneered this category. However, out-folding models face more exposure to external damage. Breakage risk was noted in 3.1% of all customer complaints for out-folding phones. Despite this, the segment appeals to users valuing aesthetics and display continuity. Battery capacities for these models average 4,500 mAh with multitasking support across 3-4 active windows.

By Application

Home-Use: Foldable phones for home use focus on entertainment, gaming, and content creation. In 2023, 7.6 million units were sold for home usage. These devices support multitasking between video streaming, social media, and calls. Over 58% of foldables shipped with Dolby Atmos stereo speakers and HDR10+ support, enhancing the user experience. More than 5 million users actively used stylus support for sketching or note-taking. Gaming users favored foldable phones with refresh rates of 120Hz or more, with GPU optimization evident in 62% of devices.
Education: Foldable phones have gained adoption in digital learning. In 2023, 1.4 million units were sold to students and educational institutions. Devices enabled split-screen e-reading and virtual whiteboarding for over 920,000 users globally. In South Korea alone, 270,000 foldable phones were distributed as part of educational pilot programs. Support for pen input, document editing, and video calling enhanced the appeal of foldable phones in classrooms and study environments.
Office Meeting: Foldable phones are redefining mobile productivity. In 2023, approximately 3.2 million units were used in office setups for tasks such as video conferencing and document editing. Multi-window functionality was used by 78% of business users to manage emails, calendar apps, and conferencing tools simultaneously. Over 60% of enterprise-focused foldables featured desktop modes, allowing the device to connect to monitors for an extended workspace. Foldable phones reduced dependence on laptops for more than 850,000 users in enterprise trials.

Foldable Phones Market Regional Outlook

The global market for foldable phones shows distinct regional characteristics based on user demographics, technology penetration, and manufacturer presence. Asian markets show rapid adoption, while North America and Europe continue to favor premium performance and brand loyalty.

North America

over 5.8 million foldable phones were shipped in 2023. The U.S. market alone contributed 4.9 million units, largely dominated by Samsung and Google. Consumer surveys indicate that 71% of foldable phone buyers in the U.S. prioritize productivity features, especially for multitasking. Carrier bundling and trade-in programs led to 2.3 million upgrades to foldable models in Q4 2023.

Europe

4.1 million foldable phones were purchased, with Germany, the UK, and France accounting for 68% of the demand. European users showed a strong preference for in-folding designs, which made up 75% of foldable sales in the region. Nearly 1.1 million foldables were used for hybrid work purposes. The average display size favored in Europe was 7.2 inches, with a rising inclination toward lightweight models under 275 grams.

Asia-Pacific

led the market with over 7.6 million units sold, with China accounting for 43% of global sales. Brands like Huawei, Xiaomi, and Oppo released more than 12 models regionally in 2023. The average user in China replaces their smartphone every 20 months, driving demand for innovation. Japan and South Korea contributed a combined 1.9 million units, with South Korean users showing 39% higher brand loyalty to foldable models compared to regular flagships.

Middle East & Africa

1.2 million foldables were sold. The UAE and Saudi Arabia together accounted for 62% of these sales. Business travelers and tech-savvy consumers in cities like Dubai and Riyadh drove adoption. Foldable phones were used by over 200,000 government and enterprise professionals across this region. African countries like South Africa and Nigeria showed increasing interest, with 170,000 units sold, mostly through e-commerce platforms.

List of Top Foldable Phones Market Companies

Samsung
Huawei
LG
TCL
Energizer
Xiaomi
Motorola
Google
Lenovo
Apple
ZTE

Top two companies with highest share

Samsung and Huawei are the two top companies with the highest share. Samsung sold 10.2 million units in 2023, accounting for over 55% of global shipments, while Huawei followed with 2.3 million units, representing 12.5% of the global market.

Investment Analysis and Opportunities

Investment activity in the foldable phones market has surged over the past two years. In 2023, over $2.1 billion was allocated to R&D by top manufacturers toward display innovation and hinge development. More than 95 joint ventures and collaborations were recorded globally to improve UTG glass, hinge folding endurance, and software optimization. Chinese brands collectively invested over $700 million in local manufacturing hubs to reduce import dependency. Samsung alone announced investments exceeding $1.2 billion into its flexible display division, which led to the launch of two new models in Q1 2024.

Private equity and venture capital firms have backed component suppliers, including flexible battery and foldable circuit manufacturers, with 38 funding rounds totaling over $500 million in 2023. Startups specializing in durable polymer substrates attracted over $120 million. Moreover, display glass innovation projects received government funding in South Korea and Japan amounting to $140 million. Foldable phone demand has also led to increased investment in app development; over 6,500 foldable-optimized apps were released in 2023 alone. Emerging economies like India and Vietnam saw factory expansions worth $380 million, aimed at scaling production by 40% to meet rising regional demand.

New Product Development

Innovation remains at the core of new foldable phone launches. In 2023, at least 20 new models were introduced by over 10 manufacturers. Samsung launched the Galaxy Z Fold5 with a 7.6-inch AMOLED screen, 12GB RAM, and a hinge durability of 300,000 folds. Huawei’s Mate X5 introduced an adaptive refresh rate of up to 144Hz and improved antenna performance. Motorola launched a compact foldable phone weighing under 190 grams, designed for single-hand usage.

In Q2 2024, Google launched the Pixel Fold with AI-based app optimization and automatic layout adjustment, contributing to over 680,000 units sold within three months. TCL unveiled a tri-fold concept with a screen size exceeding 10 inches, allowing users to transform the phone into a mini-laptop. Apple has reportedly tested two foldable prototypes, with display supply agreements signed with LG and BOE. Xiaomi’s Mix Fold 3 came with a quad-camera setup and was only 10.9mm thick when folded. These product introductions reflect the rapid pace of technological refinement, balancing performance, portability, and durability.

Five Recent Developments

Samsung: launched Galaxy Z Fold5 and Z Flip5 in July 2023 with over 1.8 million units sold within Q3.
Huawei: introduced the Mate X5 with a new rotating antenna system in September 2023, enhancing signal strength by 32%.
Google: released the Pixel Fold in early 2024, achieving a market share of 4.1% within five months.
Motorola’s Razr: 2024 model broke the 1 million mark in global units sold by April 2024.
Xiaomi: introduced Mix Fold 3 with a hinge tested for 500,000 folds, the highest durability in the market so far.

Report Coverage of Foldable Phones Market

This report offers a deep dive into the dynamics, segmentation, and prospects of the foldable phones market. It spans across 12 key manufacturers, tracking data from over 50 countries. The report covers data from 2022 to early 2025 and includes over 210 statistical tables and charts. Data encompasses shipment volumes, regional shares, user demographics, form factor preferences, and usage patterns. Over 1,200 respondents participated in the survey portion of the study, contributing to data on preferences and satisfaction.

The report analyzes more than 30 product launches, 60 R&D announcements, and over 80 investment disclosures across North America, Europe, Asia-Pacific, and MEA. More than 45 regional insights are presented with fact-based projections. The report uses real-time tracking of foldable usage analytics via partnerships with mobile app developers and network providers. It also benchmarks foldable devices against traditional smartphones in aspects such as power efficiency, performance benchmarks, and user ratings. Additionally, the scope includes detailed competitive profiling, SWOT analysis, and strategic mapping of the top 10 manufacturers.