The foldable smartphone market is expanding rapidly, with major players like Samsung leading the way and hints of a possible foldable iPhone by 2026. Recent reports show significant growth in this sector, with a 33% increase over the previous year and expectations of Huawei taking the lead in Q1 2024. Let's delve into the specifics…
Samsung Dominates Q4’23 Foldable Market, Huawei Poised for Q1’24 Lead
In the final quarter of 2023, the foldable smartphone market witnessed a remarkable 33% surge, totaling 4.2 million units sold. Despite Samsung's Galaxy Z Flip 5 and Z Fold 5 not meeting expectations, the company remains the market frontrunner. Nevertheless, Samsung faces mounting competition, especially from Huawei and Honor, which exhibited substantial growth in Q4 2023. Analysts suggest that Huawei might surpass Samsung as early as the first quarter of 2024 if this trend persists.
Diverse Brand Representation in Top-Selling Smartphone Market
The current top-selling smartphone landscape showcases a diverse range of brands. Samsung secures four positions, with Honor and Oppo claiming two spots each. Huawei and Xiaomi also make the list with one model each. While Samsung's Galaxy Z Flip 5 dominated the last quarter, Huawei's Mate X5 and Pocket 2 are poised to challenge for the top spot in the upcoming quarter.
Samsung blazed the trail as the first major manufacturer to introduce foldable phones, marking a significant achievement. However, their overall performance appears to be wavering, as they recently relinquished the title of the world's largest smartphone maker.
Potential Shifts in Market Dynamics
A stumble by Samsung could trigger a 105% surge in Huawei sales. Yet, the impending releases of Z Fold 6 and Z Flip 6 from Samsung could potentially alter the tide. Chinese manufacturers offer a broader spectrum of models across various price points, giving them a competitive edge in the long run. The ultimate winner in this race remains uncertain, with predictions suggesting that the outcome will unfold in the coming weeks.
