Q3 2023 sees file foldable gross sales, Samsung leads the market

The foldable smartphone market had a powerful Q3 2023. Due to the arrival of the Galaxy Z Flip 5 and Galaxy Z Fold 5, shipments grew a whopping 215% quarter-on-quarter (QoQ) from Q2 and 16% year-on-year (YoY) from the identical interval final 12 months. Unsurprisingly, Samsung was the biggest foldable vendor this previous quarter. Nonetheless, its market share dropped just a little in comparison with Q3 2022.

Samsung is feeling the warmth of rising competitors within the foldable market

In keeping with the show business specialists at DSCC, seven million foldable smartphones had been shipped globally within the third quarter of this 12 months. It’s a new quarterly cargo file. The earlier excessive was 6.1 million in Q3 2022 when Samsung launched its fourth-gen foldables. The market exceeded expectations, which bodes effectively for the way forward for the foldable business.

Samsung, whose market share normally peaks within the third quarter due to new arrivals, accounted for 72% of all foldable gross sales in Q3 2023. It additionally had the highest two best-selling fashions—Galaxy Z Flip 5 with a forty five% share and Galaxy Z Fold 5 with a 24% share. No different vendor or foldable mannequin reached a ten% market share this previous quarter. Huawei and Honor followed the Korean firm distantly.

Whereas it could sound like Samsung is unchallenged within the foldable market, that isn’t utterly true. Sure, it has led the cargo chart for each quarter ever since foldables got here into existence. In spite of everything, the Korean behemoth has been the one agency promoting these unconventional telephones globally since 2019. Nonetheless, that’s altering quickly as extra firms enter the scene.

Successfully, Samsung’s market share is declining. In Q3 2022, it had an 86% share, which dropped to 72% this 12 months. Furthermore, DSCC initiatives its market share to return down from 83% in Q4 2022 to 42% within the closing quarter of 2023. Huawei and Honor are each anticipated to see a surge of their share, reaching about 20%. The entire foldable shipments could attain 3.6 million in This fall this 12 months, with full-year shipments reaching 15.8 million.

BOE could turn out to be the most important foldable show maker in This fall

It might be a double whammy for Samsung within the foldable business this 12 months. On one hand, its foldable smartphone market share is declining. Alternatively, the agency’s show arm could lose the crown of the most important foldable show maker to its Chinese language rival BOE in This fall. The latter provides foldable OLED panels to Huawei, Honor, and Oppo, the three greatest distributors after Samsung. China Star and Visionox are different notable foldable show makers.