Foldable Phones’ Sale May Increase upto 30mn Units by 2023

 The difficult usability has affected its demand in the market, but the scenario is about to change, claims Gartner.

Foldable phones will account for 5% of high-end phones by 2023, reaching up to 30 million units as they bring in a never-seen-before innovation in the smartphone market, said a new report by Gartner Inc.

Research Director at Gartner, Roberta Cozza said in a statement that the foldable phones have few issues while using, such as picking it up hundreds of times a day and unfolding it periodically to type on its plastic screen that may get scratched quite often depending on the way it folds. He anticipates in the next five years foldable phones will remain a niche product due to its numerous manufacturing challenges. The price is another barrier as it is currently priced at $2,000. However, he expects the price will decline with time.

According to the research company, shipments of mobile phones are expected to hit 1.8 billion units in 2019, which is going through a decline of 0.5% year over year (YoY). But, in 2020, the mobile phone market is expected to return to growth, as the shipments will increase of 1.2% from 2019.

Cozza added that the users have reached a point where they are constantly looking for new applications and technology, which hints that unless new models provide significant new experiences utility, or efficiency, the users don’t want or need to change or upgrade the handset. But, interestingly, the vendors must know that consumers are extending the lifetime of their phones. The market research company anticipates the average lifetime of a high-end phone will upsurge from 2.6 years to 2.8 years through the year 2023.