Samsung Still Leads Folding Phone Market, But Competitors Are Closing In

As of this third quarter of 2023, Samsung continues to dominate the foldable smartphone industry, just as it has topped the position for years. 72% of the foldable phone shipments that took place this year between July and September were shipped by Samsung, according to a recent report from Display Supply Chain Consultants (DSCC). Samsung’s dominance is still well-known, but there is a rising threat to its control due to increasing devotion to these handsets. Comparing quarter 2 and quarter 3 of the same year 2023, there was a staggering 215% increase in the number of folding cell phones sold.

Nonetheless, there are other companies that are vying for market share with Samsung, such as growing companies like Huawei and Honor. The greatest number of folding phones sold during the third quarter of 2023 confirms previous reports. Comparing it to Q2 of 2023, the rise has been particularly significant at 215%. However, sales are up to 16% when compared to the same time in 2022. Coming to Q3, the Galaxy Z Flip 5 is actually the best-selling foldable device ever, and the Galaxy Z Flip 5 accounted for over half of all foldable sales, or 45% of total sales.

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This year’s third quarter saw 72% of all units sold going to South Korean tech. On the other hand, Honour and Huawei, with 8% and 9% of worldwide shipments, lag far behind. The drop in sales of the Galaxy Z Flip 5 and Galaxy Z Fold 5 is the primary cause of Samsung’s market share collapse, which the DSCC research predicts will reach 42% in the last quarter of the year. Another reason is the growing traction of HONOUR, which may account for 19% of total shipments, and HUAWEI holding devices, which may eventually account for 21% of the market.

Motorola and OPPO are also in the race to lead the way in the foldable smartphone market. Actually, it’s anticipated that devices like the Honor Magic V2 and the Huawei Mate X5 would rank among the top-selling models globally, surpassing the Galaxy Z Fold 5 from Samsung.

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