Samsung is quite active this year to maintain its leading legacy in the foldable market, and the new data from Counterpoint Research is in favor of the firm, also hinting that the newly released Galaxy Z Fold 7 will strengthen the position and help to widen the gap with rivals.
Recently, Samsung has released its high-end foldable phones, including the Galaxy Z Fold 7, which is the world’s slimmest foldable phone with 8.9 mm thickness, showing the achievements of the firm. Now, the company is looking forward to debuting its first-ever tri-fold phone, the Galaxy Tri Fold, by the end of this year.
Meanwhile, Counterpoint Research has shared new data, according to which Samsung leads the foldable market in Europe. Last year, the company secured 50% of the foldable market share in the region. Whereas, in 2022, its foldable market share was 98%, which fell to 73% in 2023. These metrics show that the company’s shares are constantly falling, but fortunately, it is still ahead of competitors by a considerable margin.
Regarding this, the research firm stated, “Although it was still leading the market, the future looked ominous for Samsung, as it was seemingly struggling to make any major improvements to its Galaxy Fold range.” However, it seems that the new Galaxy Z Fold 7 changes that narrative, as with its ultra-slim design, seamless performance, smarter camera, improved durability, and advanced features, it proved to be the most advanced foldable phone yet.
On the rivalry side, HONOR saw significant growth, and the credit goes to its Magic V2 and V3 models. While Google held 9% and Oppo 4% shares, slowly catching up in the market. Since the competition has been continuously rising over the years, Samsung has to maintain the level of advancement for its foldables to strengthen its position.
