As foldable smartphones continue to be the fastest growing smartphone product category this year, Counterpoint Research projects that the global foldable smartphone market will grow 73% this year from 9 million units last year to 16 million units by the end of 2022.

During the first half of 2022, Samsung enjoyed a dominant market share of foldables, accounting for 62% of the market according to Counterpoint, while Huawei (16%) and OPPO (3%) came in a distant second and third.

As Samsung launches the new Galaxy Fold 4 and Flip 4 combo at its Unpacked 2022 event today, it is expected that the technology giant will continue its momentum in the space and sell close to 9 million units this year, thus helping the company’s second half of 2022 foldable smartphone market share to jump to 80%, according to Senior Research Analyst, Jene Park.

The strong growth defies current economic headwinds as the premium market shows resilience and steady demand. And as such, Counterpoint forecasts strong growth through next year too, with the global foldable smartphones market expected to grow to 26 million units in 2023.