Seoul, South Korea – A report released showed that Samsung Electronics strengthened its leading position in the global foldable phone market during the third quarter of this year.
According to a report by market research firm Counterpoint Research, Samsung accounted for 64% of total global foldable smartphone shipments between July and September. This represents an 8 percentage point increase compared to the same period last year, confirming the company’s continued leadership in the market.
Widening gap with competitors
Chinese company Huawei came in second with a 15% market share in the third quarter. This widened the gap between Samsung and Huawei from 41 percentage points in the same period last year to 49 percentage points.
The other market positions were as follows: Motorola: third place with a market share of 7%, Honor: 6% market share, Vivo: 4% market share, Xiaomi: 2% market share.
Record growth supported by the “Galaxy Z Fold 7”
The report stated that global shipments of foldable smartphones rose 14% year-on-year in the third quarter.
Shipping reached its highest quarterly level ever. This growth is attributed to the immense popularity of the Galaxy Z Fold 7.
Foldable smartphones accounted for 2.5% of total smartphone shipments worldwide during the period mentioned.
Counterpoint Research predicts significant growth in the foldable smartphone market next year, driven by technological advancements, increased demand, and the potential launch of Apple’s first foldable smartphone.
