The Asia Pacific foldable display technology market is expected to grow at a modest rate owing to the high associated cost. It will limit the adoption in low-income countries. As most of the consumers in these regions fall under the middle class, there will be a slow adoption for such devices. Samsung’s foldable smartphone is speculated to be launched in the market at a price of over USD 1,700 in 2019.
Technological advancements and continuous developments in the OLED technology are creating numerous opportunities for growth of the foldable display technology market. Display technology has evolved enormously in the past few years from LCDs to LEDs and now with the adoption of OLEDs. OLEDs have made devices thinner while imparting better picture quality, wider viewing angle, and faster response rate. Flexible OLED displays have penetrated the market with foldable displays expected to be commercialized by 2019 in smartphones and later PCs.
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Apple is experimenting on this new transformational technology that will turn tablets to smartphones, notebooks to tablets, etc. In July 2018, Apple was granted a second patent for its folding iPhone prototype. The invention is a specialized display coating that will support foldable devices, fueling the foldable display technology market. The U.S. Patent and Trademark Office granted an Apple patent for its first foldable device in 2016. In the future, wearable mobile phones may emerge once the technology becomes mainstream.
The commercialization of smartphones set by Samsung and Royole Corporation in 2019 will further create enormous growth prospects for the foldable display technology market. There is an intense competition among companies to launch its device early in the industry. Huawei, Xiaomi, and Lenovo are working rigorously in eliminating the drawbacks from their device prototypes. With the companies launching their products in the future, the foldable display technology market will witness lucrative growth.
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The smartphones are the initial step for the technology; which is further expected to explore its potential in other markets such as notebooks, wearables, TVs, etc. The market will be fueled by the technical capabilities of companies to incorporate them in their products with different designs, confirming their practicality and usefulness.
Major manufacturers in the foldable display technology market space are Samsung, BOI, Innolux, LG, Royole Corporation, among others. The industry is consolidated, and the players have been focusing on developing technologically-advanced products by investing in R&D. In October 2018, Royole Corporation launched its smartphone/tablet device in the foldable display technology market named FlexPai, which is available for developers at a price of over USD 1,300.
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