As OnePlus is finally prepared to put its faith in the folding phone form factor, it will launch its first foldable smartphone in the second half of the year. The company confirmed the launch of the foldable phone at the annual Mobile World Congress in Barcelona, Spain.
Kinder Liu, President and COO of OnePlus, said that, it will be a flagship phone that does not settle because of its folding form, whether the industrial design, mechanical technology, or other aspects. It will be a phone with great performance and the best OnePlus classic experience possible.
The Chinese smartphone manufacturer has not revealed much about the phone yet, but it has promised that it will perform at the same level as its previous offerings.
The goal of OnePlus, which is now a sub-brand of Oppo, is to dominate the high-end smartphone market. OnePlus needs a foldable phone in order to better compete with Samsung and Apple, two of its biggest rivals in the high-end smartphone market, because it will add prestige to the brand. There is currently no ultra-premium smartphone in OnePlus’ lineup that can compete with the Galaxy Z Fold 4, for example.
With a market share of over 81%, Samsung of South Korea is the market leader in the foldable smartphone category. Brands like Samsung anticipate a significant market for folding smartphones in the future, despite the fact that foldables are still relatively new to the market.
Despite a global slowdown in the smartphone market, and as a result of economic uncertainty and high inflation, OnePlus and Samsung want to capitalize on the growing popularity of premium smartphones. Foldable phones typically cost more than $1,000 and come in two different sizes: flip phones and phones that fold.