Apple’s first foldable iPhone, expected to launch in September, is forecast to ship more than 10 million units in its first year, according to market research firm IDC. The device, described as a passport-style model that unfolds into a tablet, will target high-end consumers willing to pay an estimated $2,500, analysts said.
IDC projects the foldable smartphone category will grow 12.6% this year and 18% in 2025, outpacing the broader market where shipments are forecast to decline 16.7% in 2024. Apple is expected to capture 40% of all foldable shipments by 2027, reflecting the segment’s rapid expansion since Samsung introduced the first foldable device seven years ago.
Rising costs for memory chips and other components are limiting production and pushing retail prices higher across the smartphone industry, IDC noted. Francisco Jeronimo, IDC’s vice president of devices and consumer research, said the components enabling artificial intelligence features are in short supply, with costs being passed directly to consumers. The shift marks the end of the era of low-cost smartphones, he added.
Nabila Popal, IDC’s senior research director for mobile devices and smartphones, said the high price point would not deter demand among affluent buyers. “A very elite set of consumers are being lined up to buy the device,” she said. “I expect the passport-style Apple foldable to be widely successful despite the $2,500 price tag.”
The broader smartphone market, which exceeds 1 billion units annually, has faced sustained pressure from inflation and component shortages. Apple’s entry into foldables is poised to reshape competition in the premium segment, where Samsung currently leads with its Galaxy Z series devices.
