Samsung is one of the leading brands in the foldable market, and now it remains the top seller of foldable smartphones, despite global shipments declining in Q3 2024.
Global foldable smartphone shipments declined for the first time in the third quarter of this year; however, Samsung maintained its dignity as it remains the market leader. Noticeably, Xiaomi meets the highest YoY growth, which seems due to its expanded market reach.
If the report from Counterpoint Research is to be believed, the third quarter of the year marked the first-ever decline in global foldable smartphone shipments. Somehow it seems that the Galaxy Z Fold 6 and Galaxy Z Flip 6’s poor performance is attributed as one of the potential causes behind this decline. But despite this, Samsung still remains the top seller with a 56 percent market share, shipping more devices than its competitors.
Noticeably, Samsung’s global foldable smartphone shipments declined by 21 percent YoY, specifically due to sales’ downfall in China, and it also faces tough competition from its rivals; for instance, Motorola’s Razr series in North America and Honor’s foldable in Western Europe. Reportedly, Huawei became the second-biggest brand with a 15% share, up from 13% compared to the same period last year in the global foldable market.
Currently, Samsung is actively working on its future foldable phones to launch next year, including the Galaxy Z Flip FE, Galaxy Z Fold 7, and Galaxy Z Flip 7 SE.
