According to DSCC, foldable smartphones saw a record-breaking quarter, in terms of sales, in the third quarter of this year (July to September), fueled by Samsung’s launch of the Galaxy Z Fold5 and Z Flip5. Increased competition from China also played a significant role.
Sales of foldable products increased 215% compared to the second quarter of 2023 and 16% compared to the third quarter of 2022, reaching 7 million units, eclipsing the previous peak of 6.1 million reached in the year-ago quarter .
Samsung’s market share was 72%, dominant but down from 86% last year. Followed, perhaps surprisingly, by Huawei with 9%, followed by Honor with 8%. Samsung had the two best-selling models: Z Flip5 had 45% of the market while Fold5 took a 24% share. Huawei’s Mate X3 and Honor’s Magic V2 each had 6%.
In the fourth quarter, i.e. from October to December, DSCC expects sales of foldable smartphones to decrease by 35% compared to the third quarter, while increasing by 47% compared to the fourth quarter of 2022. This is due to lower-than-expected shipments for Samsung in this quarter, along with some delays in marketing new products. launches. Samsung’s brand share is expected to fall to 42%, well below last year’s 83%.
On the other hand, Huawei is said to rise to 21% of the market, followed closely by Honor with 19%. The Mate The Honor Magic V2 will rise to third position, thus overtaking even the Fold5, which will only manage a 12% share.
For the full year 2023, foldable device sales are expected to increase 23% over 2022 to 15.8 million units. The first five models of the entire year will be, in this order, the Galaxy Z Flip5, the Z Fold5, the Z Flip4, the Honor Magic V2 and the Huawei Mate X5.
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