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8 out of 10 buyers prefer foldable handsets in India, says new report

8 out of 10 buyers prefer foldable handsets in India, says new report
22 Dec, 2021

India’s foldable smartphone market is expected to see a boom in 2022 as about 81% consumers prefer to buy foldable handsets, while shopping for smartphones, finds a new CyberMedia Research (CMR) survey. 

The report titled ‘Unfold The Future Survey 2021’ said that the need for productivity tools and stylish lifestyle statement continue to top the consumers’ purchase choice, while pricing and device durability dominated their concerns. 

Also read: Semiconductors' paucity puts brakes on accelerated smartphone shipments: IDC

A report by Techarc, published on December 15, 2021, said that the foldable smartphone market is expected to cross three lakh units in 2022 and see a jump of 638% during the current calendar year. 

In terms of revenue, a growth of 60% is expected in 2022 which will translate in Rs 3,200 crore of revenues for the industry, it added. 

Read more: Foldable smartphone to breach the 3 lakh mark in India next year: Techarc

The CMR finding further said that two out of three Apple users are open to buying a foldable smartphone, while seven out of eight Samsung users prefer latest foldable handsets upgrade.  

The hinge and folding displays have become more durable and the addition of water resistance makes such phones more attractive, the report added. 

Prabhu Ram, Head-Industry Intelligence Group, CMR, said, “In 2022 and beyond, with new category entrants in the fray, we believe the foldable phone market will see a boom.” 

Interestingly, Samsung is the only smartphone original equipment maker (OEM) with commercially available foldable smartphones since 2018. Techarc claims that the revenues from foldable smartphone sales for the South Korean smartphone maker are projected to cross Rs 2,000 crore by 2021 end.   

Read more: Foldable smartphone to breach the 3 lakh mark in India next year: Techarc

While 87% of Samsung users said that they are interested in upgrading to a foldable phone, 67% of Apple iPhone owners showed their interest in factoring a foldable phone as next smartphone purchase.  

Besides, 76% and 52% OnePlus and Vivo users respectively have expressed their interest in foldable smartphone buy. 

“Beginning 2021, and the launch of the third-generation foldable phones from Samsung, we are now witnessing an early mainstreaming of the foldable form factor. Our survey insights point to the early majority being warm to foldable phones,” Ram added.  

Also read: 5G smartphones drive growth in sector despite chip shortage

While productivity enthusiasts believe foldable phones will help them on the go (38%), fashion experts prefer to make a cool and stylish statement with the foldable phones (34%).