Multiple reports and analyses indicate a massive growth in the foldable phones segment both internationally and in the India market. While the devices are priced much over Rs 30,000 in the premium category, multiple smartphone makers are acting to bank upon what they see as being affordable in the India market while not compromising on the experience.
Samsung remains the market leader in the foldables segment, with its newly-unveiled Galaxy Z Fold 5 and Galaxy Z Flip 5 are priced at Rs 1,54,999, and more, and Rs 99,999 and more, respectively. At the same time, Motorola’s offerings razr40 ultra and razr40 are priced lower at Rs 89,990 and Rs 59,999, respectively.
“While India is witnessing premiumisation, we realised that India is a price-sensitive market and hence we are the first brand to launch a foldable device in India under Rs 60,000 with the Motorola razr 40,” said Shivam Ranjan; head of marketing, Asia-Pacific, Motorola. Speaking on the customers’ reception, the company executive highlighted that “the Motorola razr40 Ultra was the highest-selling smartphone in its price segment during the Amazon Prime Days Sale in 2023. The razr40 series was the biggest-ever flip phone launch on Amazon, with the razr40 and razr40 Ultra together achieving the highest number of sales for a flip phone during the sale. We continue to see a tremendous response on retail, as well as our D2C channel.” While the company has witnessed good sales and response in the North America market, “we are seeing a similar growth and response from Indian consumers and media alike which are hailing the razr 40 ultra for being the most advanced flip phone while also democratising the form factor through the razr 40 at a more accessible price point without compromising on innovative features,” Ranjan said.
Chinese smartphone maker Tecno’s Phantom V Fold, too, is priced below Rs 1,00,000 at Rs 88,888. Arijeet Talapatra, chief executive officer of Transsion Holdings India, Tecno’s parent company, reportedly said: “With affordable schemes people can buy a Samsung, but why would a person give Rs 80,000 more premium, when he or she can close it at Rs 80,000 with less number of installments.” Having said that, “We don’t fight with anybody on cost, we fight with them on specs,” Talapatra added.
While speaking with the media during the recent launch of Galaxy Z Flip5 and Fold5 foldable smartphones, TM Roh, president & head of mobile business, Samsung Electronics, too spoke on affordability. “It is difficult to specify the timing of when such solutions will be made available. But when the time comes, then we will also unveil more affordable foldable as well,” he reportedly said.
However, Chinese tech giant OPPO thinks otherwise. Terming its foldable offering Find N2 Flip a “roaring success” in India, Damyant Singh Khanoria, CMO, OPPO India, said, “Pricing is not the primary concern for consumers in India nowadays.” The Find N2 Flip starts selling at Rs 89,999. “There is a strong appetite for fresh and innovative designs and technologies, and people are keenly aware of the value they get for their money. They’re looking for products that justify the price tag by offering a unique and fulfilling experience.” Notably, while companies like Google and Xiaomi have launched foldable phones in other markets, they are yet to launch the same in India. According to Faisal Kawoosa, chief analyst and founder of Techarc, it is a “conscious call” by the Chinese phonemaker. “There are two brands: Xiaomi and Redmi, and it is primarily still skewed towards Redmi. Very few people are able to accept Xiaomi as a premium brand. Given India is a critical market for them, if they introduce it in a haste in India where its acceptability in the premium segment is still limited, it means their launch will backfire in India. So I think they are ramping up to that situation where they see that people are accepting Xiaomi as a brand in the premium segment, and that’s the right time to hit and launch foldable phone in India,” he explained.
With foldables’ acceptance rising among customers and more companies coming up with such products, smartphone makers may sell over 6.35 lakh foldable phones this year, according to a recent report by Techarc. Also, such phones are estimated to cross a million mark in annual sales by 2025, and then double by 2028, the research firm estimated. Here, “‘Affoldables’ (affordable + foldable, as defined by Techarc priced at less than 80,000) will be a key factor driving this growth in coming years.
In 2023, these are already expected to contribute more than half (52%) of the total sales in unit terms,” the firm highlighted.
Speaking on expectations, Motorola’s Ranjan said that it is being seen that more consumers adopting foldable phones and feeling more confident in the technology.
“Plus, with advancements in our technology, we will be able to continually lower costs for foldables and make them more accessible,” he added.
