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Foldable smartphones have existed for more than three years now but Samsung‘s dominance in this niche is still unchallenged. The Korean firm captured a staggering 85 percent share of the global foldable market in Q3 2022, a DSCC (Display Supply Chain Consultants) research found. The Galaxy Z Flip 4 was the best-selling foldable this past quarter, followed by the Galaxy Z Fold 4.
According to DSCC, a total of 6.1 million foldable smartphones were shipped globally in Q3 2022. Samsung shipped 5.2 million of those. Its latest clamshell foldable accounted for 52 percent of all foldable sales this past quarter. The Fold model that arrived alongside it in August had a 27 percent market share. Huawei’s P50 Pocket, which is also a clamshell model, followed the duo distantly with an 8.6 percent share of the market. Samsung’s 2021 clamshell foldable Galaxy Z Flip 3 captured a 4.5 percent share.
Overall, DSCC estimates 13 million foldables smartphones to ship globally this year, including the current quarter. Samsung devices will account for 10.1 million of those, i. e. 78 percent. This marks a 46 percent annual shipment growth for Samsung and a 64 percent annual growth for the global market from 2021.
The foldable market will suffer a decline in Q4 2022, including Samsung
The Galaxy Z Flip 4, Galaxy Z Fold 4, and the Huawei P50 Pocket are expected to remain the top three foldable models in the fourth quarter as well. However, OPPO’s newly-launched Find N2 Flip could climb to the fourth spot. Perhaps the arrival of the OPPO foldable may trigger Samsung’s decline in this niche. DSCC projects the Korean firm’s Q4 2022 foldable shipments to fall 50 percent quarter-on-quarter (QoQ) and 36 percent year-on-year (YoY) to 2.6 million units.
Well, the whole foldable market is on a decline in the current quarter thanks to the arrival of the iPhone 14 series as well as the weak global economy. However, the global decline rate is less steep than Samsung’s — a 48 percent QoQ and 25 percent YoY drop to 3.2 million units. This means Samsung will have an 82 percent share of the global market in Q4 2022. It may be a minor decline from an 85 percent share in Q3, but DSCC says it will mark the beginning of a bigger decline in subsequent quarters.
The new research report states that Samsung’s foldable share could drop below 50 percent in the second quarter of 2023. While a traditional seasonal weakness will be a factor, new arrivals from other brands will eat up the Korean firm’s market. At least ten brands will sell a foldable next year. After all, these non-conventional phones are more profitable than regular candy bar devices. But more importantly, six of them could gain a market share of more than three percent. This will propel the overall market to 17 million units in 2023, up 33 percent from this year.
However, Samsung’s share could drop to 73 percent. It means a steady decline from 88 percent in 2021 and 78 percent in 2022. It will be interesting to see who emerges as the Korean behemoth’s biggest rival in the foldable market. Motorola has been around for a few years but hasn’t given Samsung much competition. All eyes are now on Google’s first foldable. We will keep you updated on the Pixel Fold.