According to Counterpoint Research's recent global folding screen smartphone tracking report, the global folding screen smartphone market increased by 10% year-on-year in the second quarter of 2023, reaching 2.1 million units. The increase was in stark contrast to the global smartphone market, which saw shipments fall 9% to 268 million units in the same quarter. The smartphone market is expected to experience horizontal growth. However, the growth momentum of the folding screen smartphone market continues to be strong and long-lasting.
Analysts believe that, led by major models such as entry-level folding screen phones from Samsung and Huawei, the market is expected to enter the era of popular folding screen phones from 2024. The price of entry-level folding screen mobile phones is expected to be around the more affordable US$600 to US$700 (approximately RMB 4,383 to 5,114 yuan).
The current folding screen mobile phone market is in a window period where Apple is absent. The Android system is seizing the key to introducing high-end shopping malls and constantly changing folding screen products to seize the market share. Especially in 2022, the number of new folding screen mobile phone products launched will increase rapidly, and the shopping mall will present a situation where a hundred schools of thought are contending. The penetration rate of the screen mobile phone market has been further improved, coupled with the continued development of the domestic market, it is estimated that global folding screen mobile phone shipments will increase by 52% year-on-year to 22.7 million units in 2023.
From the perspective of terminal purchasing power, H1 will account for 11% of global mobile phones priced at more than US$800 in 2021, while the current penetration rate of folding screens is less than 1%. We are optimistic about the accelerated penetration of folding screen mobile phones. The folding screen industry is developing at an accelerated pace, and parts supply links with tight terminal cooperation and good industrial chain positions will be the first to benefit. It is advocated to pay attention to the incremental links in the folding screen supply chain: 1) Flexible display panels: BOE A, TCL Technology, Visionox, etc.; 2) Protective covers: Changxin Technology, Triumph Technology, etc.; 3) Hinge: Jingyan Technology, Changying Precision, Kesen Technology, etc.