The foldable smartphone market continues to grow. Nearly all major smartphone manufacturers, with Samsung leading the charge, now offer foldable models. There’s even exciting speculation about a slim and lightweight foldable iPhone potentially arriving in 2026. So, how is this innovative sector performing? The latest DSCC report indicates impressive growth, with a 33% increase over last year and Huawei expected to lead in Q1 2024 for the first time. Here are the details…
Samsung Led Q4’23 Foldable Market, Huawei Expected to Lead in Q1’24 for the First Time
The foldable smartphone market surged by 33% in the last quarter of 2023, reaching 4.2 million units. Samsung, despite the Galaxy Z Flip 5 and Z Fold 5 underperforming, remains the market leader. However, the South Korean manufacturer faces increasing competition. Both Huawei and Honor saw significant growth in Q4 2023. If this trend continues, experts believe Huawei could overtake Samsung as early as the first quarter of 2024.
Currently, the top selling smartphone market sees strong representation from various brands. Samsung holds four spots, while Honor and Oppo each claim two. Huawei and Xiaomi round out the list with one model apiece. While Samsung’s Galaxy Z Flip 5 reigned supreme last quarter, Huawei’s Mate X5 and Pocket 2 aim to steal the crown in the first quarter.
It’s worth noting that Samsung was the first major manufacturer to introduce a foldable phone, achieving a significant milestone. However, their overall performance seems to be faltering, as they recently lost the title of the world’s largest smartphone manufacturer.
A potential stumble by Samsung could lead to a 105% surge in Huawei sales. However, the upcoming Z Fold 6 and Z Flip 6 from Samsung might turn the tide. While Chinese manufacturers offer a wider range of models at various price points, giving them a long-term edge, only time will tell who wins the race. These are, of course, just predictions, and the outcome will be clear within a few weeks.
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