Key Points:
- Foldable Phone Boom: The market is poised for significant growth, with an anticipated launch of over 38 foldable phone models this year, compared to 35 in 2023.
- Samsung vs. Huawei: While Samsung is expected to reclaim its foldable phone market share leadership by year’s end with a projected 48%, Huawei will be a strong contender, holding the top spot in the first half of 2024 with a 55% share.
- Samsung’s Dominance Wanes, But Innovation Continues: Despite facing increased competition, Samsung is still predicted to have three of the top-selling foldable phones, including the highly anticipated Galaxy Z Fold 6 and Z Flip 6. They are also actively working on minimizing the crease – a current pain point – to stay ahead of the curve.
The foldable phone market is about to get a whole lot more crowded. A projected record number of foldable devices are expected to launch in 2024, with both Samsung and Huawei vying for dominance in this burgeoning industry segment.
The foldable phone market is experiencing a growth spurt. With a significant increase in the number of models launching this year, consumers will have a wider variety of options to choose from. This heightened competition is pushing established players like Samsung to innovate and address consumer concerns, such as the crease issue.
While Samsung remains a major force, Huawei is making significant strides. Their strong performance in the first half of 2024 demonstrates their growing capabilities in the foldable phone space. Additionally, the potential entry of a foldable iPhone from Apple in the future could further intensify the competition.
This increased competition will undoubtedly benefit consumers. As manufacturers strive for market share, we can expect advancements in technology, design, and affordability, ultimately leading to a more robust and appealing foldable phone market.
