According to a recent report by market research firm Trendforce, annual global shipments of foldable smartphones will grow to 18.5 million units in 2023, compared to 12.8 million units in 2022. With this trend, the market for hinges in foldable OLED smartphones is also growing and will reach $500 million (about Rs 4,085 crore) this year. Foldable smartphones currently feature teardrop-shaped hinges and U-shaped hinges, and KH Vatec and S-Connect are the major players in this area. The foldable smartphone market consists of flip and fold devices and the space is currently dominated by Samsung. The South Korean company introduced the Samsung Galaxy Z Flip 4 and Galaxy Z Fold 4 as the latest models in its foldable lineup last year.
report good By trendforce said that worldwide foldable smartphone shipments that include both flip and fold form factors will touch 18.5 million units in 2023. In the last year, 12.8 million units were shipped globally. As per the data shared by the firm, Samsung It enjoyed the lion’s share of the foldable smartphone space with 82 percent market share last year. Growing sales of foldable handsets is also boosting the market for hinges, and the global market value for hinges used in foldable OLED smartphones will grow by 14.6 percent year-on-year to reach over $500 million in 2023.
Teardrop-shaped and U-shaped hinges are popularly used in foldable smartphones and Samsung uses the latter. Currently, KH Vatec and S-Connect are providing hinges for the South Korean brand. But going forward, Trendforce predicts that Samsung will diversify its hinge suppliers to reduce costs. Amphenol and Asia Vital Components (AVC) are suppliers of teardrop-shaped hinges. Other smartphone brands using these hinges are expected to grab a total market share of 20 percent in 2022.
With the increasing demand for foldable handsets, brands are looking to lightweight and strong composite materials to reduce the weight of the device. TrendForce mentioned that Xiaomi’s mix fold 2 Features a carbon fiber composite and measures 11.2mm in thickness when folded. Honor Magic Vs And Oppo Find N2 also use the same material.
The firm also noted that the panel maker is also involved in the development of a foldable smartphone hinge. CSOT has unveiled a “semi-set” production flow that integrates an OLED display module with no hinge required, bringing a one-piece component. Such solutions will accelerate the product development cycle and ensure optimization of the product.
According to Trendforce, the fold crease is the most commonly brought up issue by users of foldable devices. The report suggests that the display of the foldable smartphone does not go completely flat when closed. Depending on the hinge design, the foldable display will fold into either a “U” or a water-drop style design. The latter has a larger allowable screen perimeter than the U-shaped hinge, and the corresponding crease is less visible.