Industry analysis in 2023 showed that foldable smartphones with flexible displays shipped at 21.4 million units, marking a substantial 50% year-over-year increase. Projections indicate this segment will sustain momentum, with the market expected to reach 48.1 million smartphones by 2027. These figures come from a recent report and reflect strengthening interest in premium, innovative form factors within the broader mobile device sector. IDC provided the core data for the headline numbers, underscoring a pivotal shift in consumer adoption and enterprise evaluation of foldables as part of mainstream portfolios.
The emergence of foldable designs is often framed as one of the few bright spots amid a largely stagnant overall smartphone market. Analysts highlight that price discipline will gradually take hold as production scales up and supply chains mature. Still, the most aspirational models, sometimes nicknamed for their shell-like hinge aesthetics as an analogy to oyster shells, will remain predominantly in the premium tier for the near term. In practical terms, pricing dynamics are already shifting: in 2023, the average selling price of a folding smartphone declined by about 6.8%, reflecting a combination of better component sourcing, competitive pressures, and consumer education about durability and use cases.
Industry commentary also points to growing consumer comfort with the foldable form factor. Early adopters in 2022 demonstrated resilience during a financially challenging year, contributing to a 75.5% growth in the premium cap segment. This momentum signals a broader reassessment of foldables as credible, everyday devices rather than niche novelties. As awareness spreads and real-world experiences accumulate, mainstream buyers are increasingly weighing factors such as multitasking capability, long-term software updates, and repairability when considering a switch to a foldable device.
Despite the rapid expansion of this niche, its share of the total global smartphone market remains modest. In 2022, foldables represented roughly 1.2% of all shipments; projections for 2027 suggest that the share could more than double to around 3.5%. That projected growth would place foldables on a clearer trajectory toward mass adoption, helped by continued design refinements, improved durability, and new applications that leverage larger, flexible displays. From a regional lens, North America and parts of Europe appear particularly receptive to foldables as business and lifestyle demands align with the capabilities these devices offer, including enhanced productivity, media consumption, and portable convenience.
Overall, the trajectory for foldable smartphones combines gradual price normalization with expanding use cases and rising consumer trust. As researchers and manufacturers refine hinge technology, display longevity, and software optimization, the market is positioned to move beyond initial novelty toward sustained, everyday utility for a broad range of users. This evolution also emphasizes the importance of ecosystems, with developers and platform providers gradually delivering experiences designed to exploit the larger, flexible canvases that such devices provide, from enhanced multitasking to more immersive media playback and creative workflows.