According to Counterpoint Research, Samsung led the foldable market with a 79 per cent share, with the Galaxy Fold 5 accounting for half of the brand's foldable shipments.
"The foldable smartphone market in India is still a niche segment and will likely remain so for a few years," said Tarun Pathak, Research Director at Counterpoint Research.
"As it faces competition from other premium devices, especially Apple iPhones, foldables must balance consumer demands, usability, design, and pricing," he added.
According to the report, the foldable smartphone market in India is expected to reach 0.8 million units in 2024, down from the earlier forecast of 1 million units.
The book-type design held the highest share at 76 per cent in Q1, followed by clamshell smartphones at 24 per cent. The analysts said that they expect the book-type design to continue growing.
Clamshell smartphones are particularly favoured by female users due to their compact design, the report mentioned.
