Foldable display market to reach 63 million units in 2022
The foldable display market is expected to reach 3.1 million units next year. The information comes from a Display Supply Chain Consultants research cited by The Korea Herald. The question remains whether customers will be willing to pay the extra premium cost so that foldable smartphones become mainstream and pick up. The research claims that the foldable display market will reach 63 million units in 2022. That means a predicted revenue of $8.9 billion.
“After 2019, the market is predicted to accelerate as costs and prices fall, availability improves and competition increases, enabling foldable displays to expand into tablets, laptops and other market segments”, the report says.
The report also confirms that both Samsung and Huawei will be launching new devices in the first quarter of next year. These devices might have foldable displays, so they can be used as a smartphone when folded, and as a tablet when unfolded.
Prices for upcoming foldable smartphones is still a mystery. However, they are expected to to be over $2,000. This is much higher than top premium smartphones today which are hovering at around $1,500. In order for customers to pay the extra cost, these devices will have to bring something new to the table, aside from just being foldable.
“The smartphone makers already have technologies to produce foldable phones but they have delayed the mass product as they have doubts over marketability. (In order to attract consumers), they will need killer application. Otherwise, there won’t be many consumers who are willing to pay for the expensive devices”, said Kim Jang-ryeol, chief of Golden Bridge Investment & Securities’ research center.