Shipments of foldable smartphones are forecast to quadruple by 2025 as original equipment manufacturers (OEMs) focus on the premium device business, according to a new study.
OEMs are expected to ship around 55 million foldable devices by 2025, into a premium smartphone segment that grew by 1 per cent in 2022, compared with the overall smartphone market's 12 per cent decline, Counterpoint Research said in a white paper on Friday.
The premium segment not only exhibits resilience during economic downturns but also generates higher profitability,” analysts at Hong Kong-based Counterpoint wrote.
“As part of the premium offering, foldable smartphones have emerged as an innovative form factor, offering a unique consumer experience to capture a growing portion of the segment.”
The growth in popularity of foldable smartphones has been attributed mainly to Samsung, which pushed the category into the mainstream, starting with the Galaxy Z Fold in 2019. The company followed that with the clamshell-type Galaxy Z Flip the following year.
The world's biggest maker of mobile phones is scheduled to unveil its Galaxy Z Fold5 and Flip5 at its Unpacked event in Seoul on Tuesday.
With global smartphone demand continuing to decline, OEMs are shifting their focus to the premium segment – handsets that are priced at $600 and above – which is known for its higher profitability.
The global smartphone market dropped 8 per cent annually and 5 per cent on a quarterly basis in the second quarter of 2023, which was the eighth consecutive quarter to post a year-on-year decline, Counterpoint said in another report.
“The global smartphone market now seems to be well past its rapid growth phase, with consumer replacement cycles getting longer, convergence in device innovation and the emergence of a more mature refurbished market for smartphones hitting particularly the higher-volume low-to-mid-tier price segment demand,” Counterpoint analysts said.
The premium segment, however, has maintained its growth. It was the only segment that grew during the quarter, reaching its highest second-quarter contribution to the overall market yet, as more than one out of five smartphones sold during the period were premium, it said.
Those high-end devices seem to be “immune to broader constraints, as mature consumers opt for a more superior experience that is supported by the easy availability of finance options across key geographies”, Counterpoint said.
The advent of foldable smartphones has emerged as a pivotal subset, offering a new and innovative form factor, it said.
From a market share of 0.3 per cent in 2019, foldables have risen up the ladder of the global premium market, growing this to 5 per cent in 2022, and this upwards trajectory is expected to be maintained, the study showed.
“In a relatively short span of time, foldable smartphones have witnessed strong growth, capturing an increasingly significant portion of the premium market,” it said.
It is also a way for Android device makers to challenge the dominance of Apple's iPhones in the premium category. The current entry-level iPhone 14 is $799.
Counterpoint acknowledged the iPhone's strong position in the premium market, but foldable smartphones, with their unique design and proposition, have the potential to disrupt the segment.
“The ability to transform into a larger, tablet-like display provides users with versatile and multitasking capabilities.”
While Samsung has been considered the pioneer of the foldable market, Chinese OEMs quickly followed suit, introducing a wide array of foldable products in their domestic market.
In a relatively short span of time, foldable smartphones have witnessed strong growth, capturing an increasingly significant portion of the premium market
Counterpoint Research
China is now the global leader in the development of foldable smartphones, contributing a 26 per cent share of the global market in 2022, Counterpoint said.
At present, the biggest markets for foldables are China, North America, Europe and South Korea, collectively accounting for more than 80 per cent of the market in 2022, it said.
During the period, China became the leader with a share of more than a quarter, surpassing South Korea, which had dominated the market as it is Samsung’s home market.
Within the Asia-Pacific, the Association of South-East Asian Nations (Asean) bloc is seen to have the most potential for foldables, due to the larger young population that boding is more likely to adopt new technologies, Counterpoint said.
“In major Asean countries, well-developed networks and infrastructure, along with the relatively strong purchasing power of the population, make foldable products a more suitable choice,” it said.
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
PFA Team of the Year: David de Gea, Kyle Walker, Jan Vertonghen, Nicolas Otamendi, Marcos Alonso, David Silva, Kevin De Bruyne, Christian Eriksen, Harry Kane, Mohamed Salah, Sergio Aguero
Left Bank: Art, Passion and Rebirth of Paris 1940-1950
Agnes Poirer, Bloomsbury
How to increase your savings
- Have a plan for your savings.
- Decide on your emergency fund target and once that's achieved, assign your savings to another financial goal such as saving for a house or investing for retirement.
- Decide on a financial goal that is important to you and put your savings to work for you.
- It's important to have a purpose for your savings as it helps to keep you motivated to continue while also reducing the temptation to spend your savings.
- Carol Glynn, founder of Conscious Finance Coaching
Types of bank fraud
1) Phishing
Fraudsters send an unsolicited email that appears to be from a financial institution or online retailer. The hoax email requests that you provide sensitive information, often by clicking on to a link leading to a fake website.
2) Smishing
The SMS equivalent of phishing. Fraudsters falsify the telephone number through “text spoofing,” so that it appears to be a genuine text from the bank.
3) Vishing
The telephone equivalent of phishing and smishing. Fraudsters may pose as bank staff, police or government officials. They may persuade the consumer to transfer money or divulge personal information.
4) SIM swap
Fraudsters duplicate the SIM of your mobile number without your knowledge or authorisation, allowing them to conduct financial transactions with your bank.
5) Identity theft
Someone illegally obtains your confidential information, through various ways, such as theft of your wallet, bank and utility bill statements, computer intrusion and social networks.
6) Prize scams
Fraudsters claiming to be authorised representatives from well-known organisations (such as Etisalat, du, Dubai Shopping Festival, Expo2020, Lulu Hypermarket etc) contact victims to tell them they have won a cash prize and request them to share confidential banking details to transfer the prize money.
Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
Fifa%20World%20Cup%20Qatar%202022%20
%3Cp%3E%3Cstrong%3EFirst%20match%3A%20%3C%2Fstrong%3ENovember%2020%0D%3Cbr%3E%3Cstrong%3EFinal%2016%20round%3A%20%3C%2Fstrong%3EDecember%203%20to%206%0D%3Cbr%3E%3Cstrong%3EQuarter-finals%3A%20%3C%2Fstrong%3EDecember%209%20and%2010%0D%3Cbr%3E%3Cstrong%3ESemi-finals%3A%20%3C%2Fstrong%3EDecember%2013%20and%2014%0D%3Cbr%3E%3Cstrong%3EFinal%3A%20%3C%2Fstrong%3EDecember%2018%3C%2Fp%3E%0A
UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
Killing of Qassem Suleimani
Who has been sanctioned?
Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.
Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.
Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.
Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.
McIlroy's recent struggles
Last six stroke-play events (First round score in brackets)
Arnold Palmer Invitational Tied for 4th (74)
The US Masters Tied for 7th (72)
The Players Championship Tied for 35th (73)
US Open Missed the cut (78)
Travellers Championship Tied for 17th (67)
Irish Open Missed the cut (72)
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
