Samsung believes Apple's first foldable devices to make their debut in 2024

Samsung's Mobile Experience recently held a meeting with its component suppliers where the company discussed its foldable smartphone strategy going forward. The South Korean tech giant shared its expectation that Apple will join the foldable space in 2024.

According to a recent report by TheElec, Samsung shared with suppliers that it believes the foldable smartphone market will have a CAGR of 80 percent up to 2025. While the South Korean tech giant does believe Apple will enter the foldable smartphone space in 2024, it doesn't think the Cupertino-based tech giant will begin with smartphones.

Instead, Samsung believes Apple's foldable journey will begin with notebooks and tablets. Samsung also confirmed that demand for its foldable smartphones had grown in its home market of South Korea. The report stated that in the South Korean market, "iPhone users in their 20s and 30s were changing their devices to Samsung's foldable phones at a rate three to four times higher than before."

The tech giant also noted that up to 90 percent of existing foldable smartphone users are likely to buy foldable smartphones as their next device as well. In a new advertisement for its latest foldable smartphones, Samsung poked fun at Apple.