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Foldable smartphone market in India to reach Rs 6,300 crore in sales: Report

Foldable smartphones in India are expected to exceed Rs 6,300 crore in sales this year, contributing over 1.8% to total smartphone revenue, with an estimated 6.35 lakh units sold, constituting less than 0.5% of total sales volume.

Edited By: Saumya Nigam @snigam04 New Delhi Published on: July 12, 2023 18:18 IST
foldable smartphones, tech news, india tv tech
Image Source : SAMSUNG The foldable smartphone market in India to reach Rs 6,300 crore in sales

Foldable smartphones are predicted to generate sales worth over Rs 6,300 crore in India this year, contributing over 1.8 per cent of the total smartphone revenue, according to a report. Market research firm techARC estimates that over 6.35 lakh foldable smartphones will be sold in India during the year, accounting for less than 0.5 per cent of total sales by volume. The report also forecasts that the foldable form factor will surpass one million annual sales in 2025, doubling within the next three years by 2028.

The growth of "affordable," foldable smartphones priced below Rs 80,000, is expected to be a significant factor driving this growth. The report projects that by 2023, affordable will contribute more than half (52 per cent) of the total sales in unit terms.

The foldable smartphone market in India is divided into two variants: H-fold (flip smartphones) and V-fold (fold or book fold smartphones). The report suggests that 64 per cent of sales in 2023 will be flip smartphones.

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Currently, available options for Indian customers include the 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. Samsung is set to launch its refreshed models of Fold and Flip smartphones, featuring the fifth generation of foldable, offering customers a choice from the pioneers in this segment.

While foldable smartphone makers have made efforts to address durability concerns and showcase quality checks, the report highlights the need to increase awareness and provide more information about the manufacturing and engineering behind foldable smartphones.

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The rise in sales of foldable smartphones signifies the growing interest in innovative form factors and advanced technologies among Indian consumers. With increasing affordability and improved durability, foldable smartphones are expected to gain even more popularity in the coming years, transforming the smartphone market landscape in India.

Inputs from IANS

 

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