Industry officials said on Friday that LG Electronics and Samsung Electronics face more competition in the dual-screen, foldable smartphone market as their rivals are planning on launching similar devices.
LG Electronics previously launched its dual-screen V50 ThinQ 5G last May 10, with plans to roll out an upgraded V50S ThinQ on October 11. Following LG’s release, Samsung launched the Galaxy Fold, September 6.
Joining the race within the year, Huawei and Motorola are planning on also launching their devices.
Meanwhile, Microsoft, on Wednesday, made a surprise announcement in New York, stating that it will launch its foldable Surface Duo next year.
The announcement came three years after Microsoft halted its smartphone business to delay the entry of its Windows operating system in the smartphone market.
“Surface Duo is an Android-based device equipped with a dual-screen,” a Microsoft official said.
The firm said, with two 5.6 inch displays, the phone can fold out increasing overall screen display to 8.3 inches. The U.S.-based company added that it would begin shipments at the end of 2020, withholding the market price.
According to Counterpoint Technology Market Research, the global foldable smartphone market will grow exponentially in the coming years. This year about 400,000 devices is in the market and 3.2 million in 2020, 10.8 million in 2021, and 36.8 million in 2023. Counterpoint Research is a global research firm specializing in mobile & technology products in the TMT industry.
Samsung Electronics’ new foldable phone got off to a good start, enjoying a better-than-expected response from consumers worldwide.
Galaxy Fold, despite its high price tag of 2.39 million won ($1,997), had an initial run of 3,000 devices sold in less than 24 hours. It offers a new user experience with a wide foldable screen that no other device can present for now.
Cited as an alternative for Galaxy Fold, LG’s V50 ThinQ 5G has been gaining popularity for its lower price.
Huawei, on the other hand, announced its plans to launch its foldable Mate X smartphone, raising the stakes of the competition in the market. Huawei’s plans, although a good investment for the company, has raised concerns that it will be hampered by the prolonged U.S.-China trade war.
The Motorola Razr foldable phone is also expected to be launched before the end of the year.
Featured image grabbed from LG’s website.
