According to a new report from the International Data Corporation (IDC), the foldable smartphone market is poised for substantial growth in 2024, driven largely by the anticipated release of the iPhone Fold. The report predicts a remarkable 30% year-over-year increase in sales volume, underscoring the potential impact of Apple’s entry into this niche segment.
The IDC report outlines that Apple’s inaugural foldable smartphone could capture a 22% share of total units sold and account for 34% of the market’s overall value. These projections are ambitious, particularly given that foldable smartphones have been available for approximately seven years, yet remain a relatively small part of the overall market. This suggests that Apple’s introduction of the iPhone Fold could significantly influence consumer perception and adoption of foldable technology.
While foldable devices are gaining traction, with sales beginning to rise, they still represent a limited segment of the smartphone market. The IDC’s findings reflect a dual perspective: they highlight how niche the category is while simultaneously recognizing the potential disruption that a flagship product from Apple can bring. The anticipation surrounding the iPhone Fold suggests a turning point for foldables, as Apple has historically played a significant role in popularizing new technology.
Despite the optimism, success is not guaranteed. Earlier this year, Apple launched the iPhone Air, a new model that did not meet sales expectations despite positive feedback from users. This situation illustrates the unpredictable nature of consumer electronics, where product performance can diverge from initial enthusiasm.
As the foldable smartphone market continues to evolve, the forthcoming iPhone Fold could either reinforce the trend or face challenges similar to those encountered by its predecessors. The industry’s focus is now on whether foldable devices will become mainstream or remain a niche offering.
As consumers await more details about the iPhone Fold, the question of whether foldables will achieve widespread acceptance remains. The market is watching closely to see if Apple can replicate its past successes and usher in a new era for foldable smartphones.
