Swiss multinational investment bank UBS recently released a survey revealing that customers want folding phones and are willing to pay a premium for them.
According to CNBC, more than a third of consumers surveyed by UBS had “reasonably high” interest in purchasing a folding smartphone.
Unsurprisingly, price was one of the biggest hurdles cited by those surveyed, with most customers saying they’d pay $400 to $500 USD (about $533 to $666 CAD) more for a folding device.
However, the survey revealed Apple customers would be willing to pay as much as $600 USD (roughly $799 CAD) more for a foldable iPhone.
UBS said Apple is working on folding screen technology. The bank believes the Cupertino-based tech giant could launch a folding device as early as next year. However, the investment firm noted that a 2021 release is more likely.
Further, UBS said it expects Apple will release a foldable iPad first, with a folding iPhone coming later.
Additionally, UBS said that Samsung currently “dominates” the intellectual property filings for folding display and device tech. It expects the South Korean company will be a leader in folding smartphones. However, it remains to be seen if the company can fix the issues with its Galaxy Fold device and get it into the hands of consumers.
That said, Apple has several folding device patents as well.
Similar to how China helped drive demand for large phone displays, UBS expects the country will be one of the driving forces behind the adoption of devices with foldable screens.