According to the research report titled, ‘Global Foldable Phone Market Size study by Functionality Type (Inward Fold, Outward Fold) and Regional Forecasts 2021-2027,’ available with MarketStudyReport, global foldable phone market is anticipated to register an annual growth rate of 21.3% during 2021-2027.
 

Flexibility and mobility offered by these devices, escalating demand for advanced electronics, and rising product adoption in entertaining and gaming sector are driving the expansion of global foldable phone market. In addition, surging popularity of foldable phones as a convenient alternative for laptops and personal computers is augmenting industry outlook as well.
 

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Citing an instance, Samsung Electronics’ first ever foldable device offered two screens having a large 7.3’ 1532 x 2152 (361 PPI) foldable AMOLED which folds inside along with another smaller 4.5’ 840 x 1960 AMOLED that would be used when the phone is closed. The display was branded as Samsung Infinity Flex Display.
 

Thus, rapid technological breakthroughs and subsequent innovative product launches are contributing towards the overall market size. Higher costs associated with foldable phones in comparison with conventional smartphones are, however, likely to hamper the remuneration scope of the marketplace in the ensuing years.
 

In terms of functionality type, global foldable phone market is bifurcated into inward fold and outward fold. The report further assesses these segments so as to accurately determine the scope and size of this industry sphere.
 

Regionally speaking, North America, Europe, Asia Pacific, and Latin America are considered to understand the dynamics of this business sphere. Among these, Asia Pacific market is anticipated to witness lucrative growth trends during 2021-2027 owing to substantial technological developments. Furthermore, high investments and surging focus on R&D activities are adding momentum to Asia-Pacific foldable phone market progression.
 

Apple Inc., Lenovo Group Limited, Google LLC, Motorola Inc., Xiaomi Inc., Energizer Holdings Inc., TCL Electronics Holdings Limited, LG Corporation, Huawei Technologies Co. Ltd, and The Samsung Group are the major players defining the competitive arena of global foldable phone market.
 

These companies are undertaking various strategies like mergers & acquisitions, innovative product launches, R&D investments, collaboration deals, and partnerships to strengthen their foothold in the overall market.