Folding phones are here. So where is Apple? 

There have been on-and-off rumors for years that Apple is working on a foldable phone—its supplier was developing a bendable glass years ago, and Apple received a patent for a “foldable electronic device” earlier this year. But Apple, which has a 55% smartphone market share in the U.S., has nothing to show for it yet. When Apple launches its latest iPhone on Sept. 12, all indications are that the new phone will look pretty similar to the current model (Bloomberg reports that the frame will be titanium instead of steel, and the screen borders will be thinner).

That’s a shame, given that the ability to fold may be the only exciting thing happening in smartphones these days. Global smartphone sales declined 11% in the second quarter, according to industry research firm Canalys, and Apple’s iPhone revenue has declined for three quarters in a row.

Some of Apple’s competitors are making headway with new shapes. In the most recent foldable-phone news, Chinese government-owned Honor confirmed it will launch the thinnest folding phone to date in global markets come Q1 2024, Android Authority reported on Friday. While it will roll out in Europe, the U.K., and Latin America, it won’t be available in the U.S. The company, part of Huawei until 2020, appears to be building its empire outside the reach of U.S. Regulators, which previously instituted sanctions that hurt the business.

Samsung, Google and Microsoft are all making moves in the U.S. Samsung’s folding Galaxy has been available since 2019, and Google recently came for its preeminence by releasing a folding Pixel at the same price in May. Microsoft’s folding Surface Duo 2 came to market in 2021, though it had a tough time selling. 

Given Apple’s hold on the market, it’s possible it doesn’t need to be ultracompetitive in this sector…yet. For smaller phone developers, the launch of a foldable phone largely worked to shorten the gap between themselves and the industry dominators: Apple and Samsung. Globally, Samsung has the highest market share at 20%, and Apple follows with 17%, according to market research company Counterpoint. But the demand for folding phones is growing, and if Apple doesn’t get moving, it could lose further to Samsung. The market is expected to double to $54 billion in the next five years, according to market research firm Mordor Intelligence. 

“The company does not appear to be in a hurry to enter the foldable smartphone market,” Ross Young, an analyst at Display Supply Chain Consultants, wrote in a report last year. The iPhone Flip, Apple’s reported folding phone, is expected to launch in 2025 or later, he said. At the same time, it has reportedly had discussions about a “foldable notebook,” which could materialize in its MacBook or iPad product.

Rachyl Jones

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ON OUR FEED

“Today’s announcements show that President Biden understands that building the cars of the future also necessitates helping the communities challenged by the transition away from the internal combustion engine.”

—U.S. Secretary of Energy Jennifer M. Granholm, announcing $15.5 billion worth of funding and loans for the conversion of existing auto plants to factories that can churn out electric vehicles

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BEFORE YOU GO

Threads on the web. Did you notice that Meta’s Threads finally became available in web app form last week, as many had demanded? If not, then you’re in good company—according to data from Similarweb, the launch barely moved the needle on visits to the Threads website.

As TechCrunch reports, Threads’ explosive early success was followed by a precipitous drop in usage, of over 80%. But the Instagram-linked platform continues to add new functionality to bring it up to speed with the competition, including a full-text search feature that it is currently testing in Australia and New Zealand.