(Yicai Global) Dec. 22 -- Worldwide sales of foldable smartphones could reach almost 20 million units next year, Ville-Petteri Ukonaho, an associate director at research firm Strategy Analytics, told Yicai Global.

Chinese handset producers, including Honor, Huawei Technologies and Xiaomi, have released new foldable models in the past week. Ukonaho and others predict increasing sales next year.

Chinese manufacturers had taken a cautious approach to such phones, due to industry chain production and technology bottlenecks for ultra-thin glass, liquid metals, metal injection molding and hinge design. But producers can now source localized alternatives for UTG and MIM components as well as hinges.

Seed Optoelectronics Technology, Triumph Science and Technology, Keiraku Display Technology and others have announced progress on research and development or plans for UTG projects this year. Meanwhile, BOE Technology Group and Visionox have become mainstream foldable screen suppliers to Chinese smartphone makers.

China’s annual UTG production capacity may reach more than 150 million pieces from next year to 2023, according to industry estimates.

Due to its partnership with Huawei, Triumph Science has seen its stock price [SHA: 600552] climb over the past month. Its shares jumped 4.7 percent today to finish at CNY13.05 (USD2.05) each.

Editor: Peter Thomas