Compound annual growth rate of 27.6%. Dice estimates that 48.1 million foldable mobile phones will be shipped in 2027, with revenue of $42 billion.

CTOnews.com, March 30 (Xinhua)-- in a report released today, market research firm IDC estimates that global shipments of foldable mobile phones will reach 21.4 million in 2023, an increase of more than 50 percent from 14.2 million last year.

Global shipments of foldable mobile phones are expected to reach 48.1 million units in 2027, with revenue of $42 billion (CTOnews.com Note: currently about 289.38 billion yuan), with a compound annual growth rate of 27.6 percent.

The content of Anthony Scarsella, IDC Mobile Research Manager, translated by CTOnews.com is as follows:

Revenue in the collapsible mobile phone market is slightly higher than previously forecast as consumers begin to embrace the new device form.

The average selling price (ASP) of foldable phones fell by 10 per cent in 2022, contributing to a 75.5 per cent increase in shipments.

In 2023, more and more mobile phone manufacturers are pouring into the collapsible market, and we estimate that the collapsible mobile phone market will grow by 50.5% against the backdrop of 1.1% contraction in the smartphone market.