22 Feb

Is Apple Already Too Late to the Foldable Phone Party?

WRITTEN BY John Parker FEATURED IN Company News, Insights, & Analysis and Consumer Discretionary

Apple versus Samsung

As we discussed in the previous part of this series, in an event on February 20, South Korean tech giant Samsung Electronics (SSNLF) unveiled a range of new smartphones. These new smartphones included three variants of its Galaxy S10 phones (including a 5G compatible variant) and a foldable device, the Galaxy Fold. Some experts consider the new range of Samsung phones to be a threat to the already falling Apple (AAPL) iPhone sales. Now let’s take a look at a recent report that suggests that Apple has recently applied for patents related to a foldable smartphone.

Is Apple Already Too Late to the Foldable Phone Party?

Is Apple too late?

According to a recent report by The Verge, “Apple has drawn a blueprint of its own foldable smartphone in a patent application published last week.” The report claims that Apple has been taking an interest in developing the foldable phone “for quite some time” and it filed related design plans in October 2018 for patents.

While the idea of owning a foldable iPhone sounds exciting to Apple fans, Apple might already be too late to the foldable phone party. However, we can’t ignore the fact that not only Samsung has launched a foldable phone but the Chinese tech giant, Huawei, also is expected to launch its foldable smartphone in the coming weeks.

This is the reason why even if Apple brings its foldable iPhone to the market at a later stage, it might face stiff competition from many other companies like Samsung and Huawei.

As of February 21, Apple has gone up by 2.8% month-to-date. Other companies such as Microsoft (MSFT), NVIDIA (NVDA), Qualcomm (QCOM), Netflix (NFLX), Oracle (ORCL), Intel (INTC), Micron (MU), and AT&T (T) have risen 4.8%, 8.4%, 5.7%, 5.1%, 3.7%, 9.1%, 8.7%, and 2.6% in February so far, respectively. In contrast, Alphabet (GOOG), Facebook (FB), Amazon (AMZN), Advanced Micro Devices (AMD), Tencent Holdings (TCEHY), and Baidu (BIDU) have lost about 1.9%, 4.0%, 5.8%, 2.0%, 3.5%, and 0.5%, respectively.

Read on to the next part where we’ll look at why Samsung Galaxy Fold could eat up the iPhone’s market share.

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