Foldable Smartphone Sales Soar in Q3, Samsung’s Market Share Set to Plummet in Q4

Foldable Smartphone Sales Reach Record High in Q3, Samsung to Lose Significant Share in Q4

Foldable smartphones have had a record-breaking quarter in sales, according to DSCC. The third quarter of this year (July to September) saw a surge in sales, fueled by Samsung’s launch of the Galaxy Z Fold5 and Z Flip5. The increased competition from China also played a significant part in the increase.

Sales of foldable smartphones jumped 215% compared to Q2 2023 and 16% compared to Q3 2022, reaching a total of 7 million units. This eclipsed the previous peak of 6.1 million units reached in the year-ago quarter.

Samsung dominated the market share with 72%, though this was down from 86% the previous year. Huawei and Honor followed with 9% and 8% market share, respectively. The best selling models were the Z Flip5, capturing 45% of the market, and the Fold5 with a 24% market share.

However, in the fourth quarter, DSCC expects foldable smartphone sales to fall 35% compared to Q3. This is due to lower than expected shipments for Samsung and some delays in new product launches. As a result, Samsung’s brand share is expected to fall to 42%.

Huawei is predicted to rise to 21% of the market, closely followed by Honor at 19%. The Mate X5 is expected to rise to the No.2 model ranking with a 15% market share, surpassing the Fold5. Honor’s Magic V2 will also rise to the third position.

For the full year 2023, foldable sales are expected to rise 23% compared to 2022, totaling 15.8 million units. The top five models for the entire year are projected to be the Galaxy Z Flip5, the Z Fold5, the Z Flip4, the Honor Magic V2, and the Huawei Mate X5.

These predictions are based on DSCC’s analysis and expectations for the market. For more information, refer to the source of this news piece.