Oppo launched its flagship foldable smartphone, the Find N5, in Singapore on February 20. Billy Zhang, Oppo's president of Overseas Marketing, Sales, and Services, noted that while foldable device shipments have fallen short of expectations recently, the product line holds substantial growth potential. He anticipates demand for foldable devices could double in the next three to four years.
Foldable devices, championed by brands such as Samsung and Huawei, are projected to see global shipments reach nearly 18 million units in 2024. Although there's a slowdown in demand, growth is robust compared to other mobile segments due to initial low numbers. According to IDC, China led as the largest market, with shipments of 10.7 million units in 2024, a 52.4% year-over-year increase. The market's compound annual growth rate (CAGR) is anticipated to be around 20% over the next five years.
Zhang attributes the slowdown in foldable device demand in 2024 to their heavy design and durability issues that fall short of consumer expectations. Challenges in product positioning and sales volume hinder rapid cost reduction, impacting their market penetration.
Battery life, weight, and screen folding durability can still improve. The rapid development of generative AI enhances the experience on foldable devices with large screens, a key reason for optimism about their future potential.
Zhang highlighted Oppo's significant investments in foldable device technology, with a dedicated R&D team of over 100 people and more than 6,000 AI-related patents, nearly 70% focused on imaging. He noted that these resources and innovations solidify Oppo's strong position to lead in the foldable device market.
