Over 18 million foldable devices to be shipped in 2023 according to Trendforce

Trendforce published a report which predicts that shipments of foldable devices will increase by 44% in 2023.

The improved sales will affect the market for hinges in foldable OLED smartphones and will reach $500 million.

Last year saw 12.8 million shipped foldable smartphones, which will jump to over 18.5 million for the calendar 2023, forecasted Trendforce. Samsung sold 82% of all foldables in 2022 because other makers like Xiaomi, Oppo, and vivo are selling their devices in only in China and in limited quantities.

The numbers on foldable sales are just a by-product of the Trendforce analysis, which primarily focused on the market for hinges. Currently, there are two types of hinges – teardrop-shaped and U-shaped. The former contains many complex parts and costs “several times higher” than the latter. The analysis predicts that as the penetration rate of foldable models rises, makers will look for cost-effective components, starting from the hinge.

The overall hinges market will reach $500 million, up 14.6% YoY. The key players are KH Vatech and S-connect, both supplying U-shaped hinges to Samsung. Brands that adopted the more complex hinge are working with makers like Amphenol and Asia Vital Components.

Source: GSMArena