Samsung has officially lost its leadership in the foldable device market

A major change has come to the world of foldable smartphones as Samsung, which has long been the leader in the foldable segment, is now ceding its place at the top.

Here's What We Know

As of Q1 2023, Samsung captured 58% of the global foldable devices market, while its closest competitor was Huawei with just 14%. According to the latest research, Samsung's share of the foldable device market has dropped to 23%, ceding the lead to Huawei, which now has 35% of the market. This shift reflects a general increase in interest in foldable gadgets, which have grown by 50% and are becoming increasingly popular among users.

Two more companies that have improved are Motorola with 11% and Honor with 12%. Both brands experienced massive growth during 2023, probably due to devices like the Razr+ and Magic V2, which were attractive foldable devices in their price segment.

Samsung was a pioneer in this field by introducing its innovative Galaxy Fold and Flip to the market. However, the latest models did not bring the expected innovations, which may have led to a decline in consumer interest. At the same time, competitors were not standing still. Companies like Motorola and Honor introduced improved models that attracted attention thanks to their hardware and software innovations, as well as camera improvements.

Among foldable devices, the most popular are book-type models such as the Galaxy Fold, Pixel Fold and OnePlus Open. They account for the majority of sales, while traditional foldable devices like the Galaxy Flip and Motorola Razr account for the remaining market share.

These changes in the foldable market reflect the dynamism of technological advances and the importance of innovation in maintaining a leading position. Samsung may need to rethink its strategy to get back on top in this rapidly evolving segment and perhaps the upcoming Galaxy Fold 6 and Galaxy Flip 6 models will help the company improve the situation.

Source: Counterpoint