Key Points:
- Samsung’s Market Share Plummets: Samsung’s share of the foldable market has shrunk from nearly 60% to just 23%.
- Huawei Takes the Lead: Huawei now leads the market with a 35% share, followed by Honor and Motorola.
- Competitors Innovate: Rivals have surged ahead with significant advancements in hardware and software.
Foldable smartphones, once a niche novelty, have rapidly evolved into a significant segment of the mobile market. For years, Samsung reigned supreme, capturing nearly 60% of global foldable shipments by early 2023. However, this dominance has waned as the competitive landscape intensifies and Samsung’s innovation slows.
According to Counterpoint Research, Samsung’s market share has plummeted to a mere 23%, with Huawei now leading the pack at 35%. This shift coincides with a broader market growth of nearly 50% year-over-year, highlighting the increasing consumer interest in foldable devices.
Two key players, Honor and Motorola, have also made substantial inroads, commanding 12% and 11% of the market, respectively. Their success is largely attributed to cutting-edge models like the Magic V2 and Razr+, which have outpaced Samsung’s offerings in both hardware and software advancements.
Samsung’s 2023 models, the Galaxy Z Fold 5 and Flip 5, offered minimal upgrades over their predecessors. The most notable enhancement was the Flip 5’s larger cover display, but overall, Samsung failed to innovate significantly in either hardware or software. Meanwhile, competitors such as Google and Oppo/OnePlus introduced foldables with superior features and performance, further eroding Samsung’s market position.
Interestingly, the market now favors book-style foldables, like the Galaxy Z Fold 5 and Pixel Fold, which constituted 55% of Q1 2024 shipments. In contrast, clamshell designs like the Galaxy Z Flip 5 and Motorola Razr+ accounted for the remaining 45%, underscoring a shift in consumer preferences.
