khaskhabar.com : Monday, April 10, 2023 6:32 PM
New Delhi, . India is expected to see a fivefold increase in the number of foldable smartphones priced between Rs 60,000 to Rs 75,000 by 2026. This information has been given in a new report on Monday. According to CyberMedia Research (CMR), the year 2023 will see the emergence of a new breed of foldable smartphones in the Rs 60,000 to Rs 75,000 price range, which is likely to account for 10 percent of the total foldable smartphone market.
Menaka Kumari, Industry Intelligence Group (IIG) Analyst at CyberMedia Research, said, “With the growing trend of foldable smartphones and increasing competition among OEMs, the average selling price (ASP) for foldable phones is expected to further fall by 12-15 percent in 2023. 60,000-75,000 price segment will be a positive space for OEMs, CMR estimates.
The report states that the overall increase in the foldable smartphone shipments will contribute to the growth going forward for the premium smartphone market.
In 2023, the overall foldable market will grow by more than 65 percent (year-over-year), despite macro headwinds.
As per the report, Samsung will continue to enjoy the growth momentum in the foldable segment.
Furthermore, the report said that 8 out of 10 smartphone buyers were positive about the future of foldable phones.
With each passing generation of foldable phones, consumer trust has increased due to greater device durability, especially features like the hinge (58 percent) and water and dust resistance (45 percent).
In the last annual foldable phone report, four out of five consumers pointed to being concerned about pricing.
–IANS
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Web Title-Rs 60,000 to Rs 75,000 foldable smartphones will grow 5 times by 2026 – report
