The first decline in the global foldable smartphone market, according to Counterpoint Research, occurred in Q3 2024 at a decline of only 1% compared to the same quarter in the previous year.
Despite the launches of Galaxy Z Fold6 and Z Flip6, Samsung’s market share plunged to 56%, equivalent to a reduction of 21% in the number of units shipped from last year, demonstrating intensifying competition as well as possible hazards in consumer demand in the foldable category.
Rivalry Increases:
Samsung – With the exception of this brand relatively failing last year, other brands like Xiaomi, Motorola, Honor, and Huawei benefited from an increased diversity of choices for foldable devices. The annual shipment increase of Xiaomi was the most dramatic largely due to the release of its first clamshell foldable, the Mix Flip, sold outside China.
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Under the Razr 50 umbrella, Motorola consolidated its position by launching foldables below $1,000 which saw high interest in North America. Honor also expanded further with its ultra-thin foldable Magic V3 which received rave reviews for its pioneering design.
Strengthening Momentum in China:
Very much entered by Huawei, with its Mate X5 and Pocket 2 models sold doing very well, also, Nova Flip, and Mate XT Ultimate were added in-store, thus drawing in more volumes for Huawei, but these later two models are yet to be marketed outside the country.
Samsung under Pressure:
Z Fold6 did modestly, while Z Flip6 has not been counted as sales-leading. And now, Counterpoint Research adds, already hampered by the brand’s scant presence in China where it only holds an 8% stake in the foldable market kind of power this levy holds.
This change would imply clearer signs of stiff competition as competitors see their products shine through attractive designs and when provided with affordability in addition to better regional strategies to steadily undermine Samsung’s hitherto safe stronghold in the foldable market.