Foldable smartphones are becoming more and more popular. Recent reports show that in the third quarter of the year, companies like Samsung, Google, Huawei, Xiaomi, TECNO, and others sold a whopping 7 million foldable phones, setting a record. The annual growth rate is a solid 16%, and compared to the previous quarter, it shot up by a huge 215%. Now, the big question is: how much of the market did each brand grab during this amazing growth? Here are the details…

Samsung Dominates Q3 Foldable Smartphone Sales with 45% Market Share

When it comes to foldable smartphones, Samsung, the first brand that comes to mind, stayed at the top this quarter. The company grabbed a 45% share of the market. At first glance, it might raise eyebrows that the company’s numbers went down by 75%. However, when you consider the increasing competition and sales from other brands, it’s not all that surprising. This is especially true when you think about how Samsung’s models are pricier compared to all its competitors.

Right now, Honor and Huawei are both in the second spot in the market, sharing it with a 6% market share each. Other brands like OPPO, vivo, and Xiaomi are also in the mix. Experts are saying that the last quarter of 2023 might bring a change. They predict a significant drop in smartphone sales, with an expected decrease of as much as 36%.

Unfortunately, it looks like Samsung might be hit hard by this situation. As mentioned earlier, even though Samsung’s market share is decreasing, their positive outlook is mainly because the overall market is growing. To put it simply, while Samsung’s piece of the pie from a 100-slice cake is getting smaller, it’s not a big deal because the whole cake is getting bigger.

However, if sales drop and competition heats up in the last quarter of the year, and both the overall market and Samsung’s share go down, the Korean manufacturer could face a real problem. Still, there’s nothing we can do about all this except wait and see what happens.

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