Shipments this year are expected to reach 16 million units, Counterpoint said in a statement, adding that shipments were forecast to reach 23 million units in 2023.
The tech analyst firm said Samsung was still the leader in a category that it created with its Galaxy Fold.
In 2021, there were nine million foldable smartphones shipped; Samsung has cornered 62% of the market in the first half of this calendar year. Huawei and Oppo were second and third, quite a distance behind with 16% and 3% of shipments respectively.
“We expect the new Galaxy Fold 4 and Flip 4 combo to continue Samsung’s momentum in the space and sell close to nine million units this year, helping the company’s 2H 2022 foldables share to jump to 80%.”
Park added: “Foldables not only bring fresh design to smartphones — traditionally ruled by bar-type form factors — but also more screen real estate. This is growing in importance with smartphone use cases expanding, especially across media, entertainment and work.”