What you need to know
- Foldable phones reached record shipments in Q3 2023, according to Display Supply Chain Consultants.
- Samsung held the majority share, with the top-selling foldable phones being the Galaxy Z Flip 5 and Z Fold 5.
- Samsung's share is expected to fall significantly as Android OEMs such as Huawei and Honor gain market share.
Foldable popularity has hit new heights, according to the latest market share report from Display Supply Chain Consultants (DSCC). Per the report, companies shipped a record 7 million foldable phones in Q3 2023, which represents a 16% year-over-year growth and a whopping 215% growth compared to the previous quarter.
It should come as no surprise that Samsung was the top player in the foldable space, with its latest foldable phones making up the majority of shipments. The Galaxy Z Flip 5 captured a 45% share, while the Galaxy Z Fold 5 held 24% of the foldable market. That's quite impressive, considering both phones went on sale during the third quarter. Meanwhile, the next top phones come from Huawei and Honor, both of which only have a 6% share.
However, while Samsung continues to dominate the foldable market, other Android OEMs are eating into share. The DSCC report notes that while foldable shipments will fall by 36% in Q4 compared to Q3, Samsung's piece of the pie will also get smaller as Huawei and Honor continue to rise with the Mate X5 and Magic V2. These phones are expected to take the #2 and #3 spots, respectively, moving the Z Fold 5 to the fourth best-selling foldable phone of Q4.
DSCC CEO Ross Young comments that 2023 has been a mixed year for foldables. "It has benefited from Huawei regaining its footing and gaining significant share, a number of new entrants such as Google, OnePlus and Tecno, and some impressive improvements in device thickness, weight and reductions in seam visibility."
Young also notes that panel shipments are also shifting away from Samsung Display, with BOE expected to take its place as the top panel supplier for Q4, thanks to Huawei, OPPO, and Honor. It's a shift that further highlights how Samsung's once-stable dominance in the foldable market is now threatened as more impressive options reach consumers, particularly in China and Europe, where there's much more competition than in North America.
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Derrek is a long-time Nokia and LG fanboy who loves astronomy, videography, and sci-fi movies. When he's not working, he's most likely working out or smoldering at the camera.
We purchased to z folds the Day of release. I have replaced mine w a Moto. Why? The software on Samsung sucks. Good hw, but there cover screen is barely usable. Am added benefit of the speech recognition sw now has NO LATENCY. Samsung TVs can't even stay connected to their SmartThings hub. Read the reviews on the frame tv. They risk the state on Sony if they don't invest in UX designers & sw eng.Reply
It is a shame that they didn't do more with the Flip 5 cover screen, I personally just can't trust Moto when it comes to updates though. I really don't think Samsung have anything to fear from Sony in either the phone or TV space.Scooter-Trash said:We purchased to z folds the Day of release. I have replaced mine w a Moto. Why? The software on Samsung sucks. Good hw, but there cover screen is barely usable. Am added benefit of the speech recognition sw now has NO LATENCY. Samsung TVs can't even stay connected to their SmartThings hub. Read the reviews on the frame tv. They risk the state on Sony if they don't invest in UX designers & sw eng.