Foldable phones will account for 5% of high-end Mobiles by 2023, amounting to 30 million units as they are expected to Possibly re-inject innovation in the smartphone market, ” Said a new report by Gartner on Monday.
“We hope that consumers will use a handheld phone because they do their regular smartphone, picking it up countless times daily, unfolding it sporadically and typing on its vinyl screen, which may scratch fast depending on the way it folds,” Roberta Cozza, Research Director at Gartner, said in a statement.
“During the next five years, we expect foldable phones to remain a market product due to several production challenges. In addition to the surface of the display, the cost is a barrier we expect to diminish with time. Now priced at $2,000 (roughly Rs. 1,39,000), foldable phones present too many trade-offs, even for many early technology adopters.”
Shipments of mobile phones are estimated to reach 1.8 billion units in 2019, a decline of 0.5 percent year over year (YoY).
But in 2020, the mobile phone market is predicted to return to growth, with a shipments increase of 1.2% from 2019.
“Users have attained a threshold for new technologies and applications, which means that unless new versions provide significant new usefulness, efficiency or experiences, users do not desire or need to upgrade,” Cozza added.
Nevertheless, vendors will need to realise that customers are extending the duration of their phones.
The market research company expects the average high-end telephone lifetime to increase from 2.6 years to 2.8 years through 2023.