New smartphone report brings good news for Samsung's future

Smartphone sales aren't growing as quickly as they did a decade ago, but the outlook remains positive. This is especially good news for Samsung, considering the disastrous periods in 2020 and 2022 when sales plummeted after the COVID-19 pandemic. Despite these setbacks, smartphone sales are projected to grow.

A new report from market analysis and research firm IDC claims that smartphone sales will be 1% higher this year compared to 2024. Moreover, sales will continue to climb consistently each year by 1-2 percentage points for the next four years (till 2029). And this growth will come despite the ongoing tough economic conditions.

The report mentions that continued sales of foldable smartphones from Samsung and other brands show that the new form factor has matured, knocking down barriers that prevented mainstream adoption earlier. Earlier, foldable phones used to look, feel, and look like fragile prototypes. They used to be thick and heavy and had small batteries. However, new-age foldable phones like the Galaxy Z Fold 7 are extremely thin, light, and powerful despite having two screens.

Samsung recently announced that demand for the Galaxy Z Flip 7 and the Galaxy Z Fold 7 has been phenomenal. Both phones feature bigger screens, faster processors, thinner and lighter designs, and a less visible screen crease than their predecessors. Apple is expected to launch its first foldable iPhone, which reportedly uses Samsung's OLED panel, in the second half of this year.

Samsung is also expected to announce its first tri-folding phone before the end of this year. The phone is rumoured to feature the Snapdragon 8 Elite For Galaxy processor, a Galaxy Z Fold 7-like triple-camera setup, a 10-inch (or similarly big) display, and a thin and light design.

Based on reports, the device could cost $2,500 or higher, and it could launch in South Korean and China initially.