In the ever-evolving world of foldable phones, Samsung has long been a frontrunner. However, recent competition from various players, including Huawei surpassing Samsung in Q1 2024, is shaking up the foldable phone market.
Samsung still holds the lead in the foldable market, but there are some changes on the horizon:
– Market research firm TrendForce analysts report that Samsung’s share has dropped from 60 percent to just over 50 percent.
– Foldable phones currently make up about 1.5 percent of the global smartphone market, a number expected to rise to 5 percent by 2028.
– Challenges like high repair rates and costs have impacted market growth, but experts project a rise to 4.8% by 2028.
Huawei has made significant strides in the foldable phone market with models like Pocket S and Mate X5. Rumors of a tri-fold phone launch could further boost Huawei’s market share to nearly 30%.
Other companies like Xiaomi, Oppo, and vivo have faced challenges in expanding their foldable phone sales. In contrast, Motorola’s Razr series is making waves with models like Razr 40 and Razr 40 Ultra poised to secure a 6% market share.
As competition heats up in the foldable phone space, it’ll be interesting to see how each brand navigates these changes and innovates in this dynamic market. Stay tuned for more updates on the latest developments in foldable technology!
