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India Foldable Smartphone Sales Set to Top 1 Million in 2024

The foldable smartphone market is gaining momentum in India, with several companies launching their latest devices in the country.

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After years of anticipation and development, foldable smartphones are finally set to make a splash in the mobile industry. In 2022, China and South Korea emerged as the frontrunners in the adoption of foldable smartphones. These two countries, known for their early adoption of new technology, were quick to embrace the new form factor and incorporate it into their smartphone markets.

The foldable smartphone market is gaining momentum in India, with several companies launching their latest devices in the country. While the market is still in its early stages, there is a growing interest in foldable smartphones among Indian consumers, particularly in the high-end segment.

Key Findings

  • India foldable smartphone sales set to top 1 million in 2024. The Indian market for foldable smartphones is set to reach a major milestone in 2024, with sales projected to surpass one million units. Flip phones are expected to drive the growth of this market, accounting for 70% of the total shipments.
  • 43% of Indians are interested in purchasing a foldable smartphone. According to a survey by Datum, 43% of Indian consumers are interested in purchasing a foldable smartphone. This finding is inline with the shift towards premiumization in smartphone. Premiumization in the smartphone market reflects a shift in consumer preferences towards devices that offer unique features and design elements, as well as a desire for status symbols. Foldable smartphones, with their unique form factors and cutting-edge technology, are well-positioned to meet these demands.
  • Smartphone Shipments Peaked at 161 Million in India in 2021. In 2021, India's smartphone market witnessed a surge in shipments, reaching an all-time high of 161 million units (according to IDC). This impressive growth was driven by several factors, including increasing smartphone penetration, affordable data plans, and the growing popularity of e-commerce platforms.
  • The Indian smartphone market witnessed a decline of 5.6% in 2023, with shipments totaling around 136 million units. This decline can be attributed to several factors, including economic slowdown, premiumization, increased competition from feature phones, and a shift towards longer replacement cycles.
  • 54% of Smartphone sales projected as 5G handsets in 2023. The adoption of 5G technology in smartphones is accelerated in 2023, with more than half of all smartphone sales projected to be 5G-enabled handsets as compared to 35% in 2022. This trend is driven by the rollout of 5G networks in India, which will provide faster data speeds and better connectivity for users
  • After a peak of 58% share of online channel is declining. The rise of online sales in the smartphone market in India reached its peak in Q3, 2022, with online channels accounting for 58% of the total sales. However, this trend appears to be reversing in 2023 as online channel share declined to 47%. This is pushing smartphone players to invest more on offline sales.
  • 23% of Indians are willing to spend between ₹50,000-₹100,000
    on foldable smartphones.
    According to the recent survey by Datum, 23% of Indian consumers are willing to spend upwards of ₹50,000 on foldable smartphones. In the third quarter of 2023, smartphones priced above $600 accounted for 11% of total shipments, compared to just 4% in the first quarter of 2022. This represents a significant shift towards more expensive devices, and indicates that consumers are increasingly willing to pay a premium for high-end smartphones, including foldable devices.
  • Pricing and concerns about screen breaking are key inhibitors. The price point of foldable smartphones remains a major inhibitor to their uptake in India, with many consumers considering them to be luxury items. As a result, most buyers are either waiting for prices to drop or considering alternatives in the regular smartphone market.
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Report Methodology and Definitions

Source: Secondary Research, Press, IDC, Datum Consumer Survey, November 2023 (1,000 smartphone owners (18+) in 8 cities – Delhi, Mumbai, Bangalore, Hyderabad, Chennai, Ahmedabad, Kolkata, Chandigarh)


Foldable Smartphone: A foldable smartphone is a mobile device with a flexible display screen that can be folded or unfolded, providing users with a compact form factor for portability and a larger screen size for enhanced functionality.

Flip -Type Foldable Smartphone:  A flip-type foldable smartphone, also known as a clamshell design, features a hinge that allows the device to fold along its vertical axis, similar to a traditional flip phone. When closed, the phone has a smaller form factor, and when opened, it reveals a larger display for various applications. 

Flip Type Smartphone

Fold -Type Foldable Smartphone: A fold-type foldable smartphone typically has a horizontal hinge that allows the device to fold along its horizontal axis. This design results in a more compact form when closed and a larger display when unfolded, often transforming the device into a tablet-like experience.

Fold Type Smartphone