Samsung’s Foldable Phones Losing Ground in China
Samsung, once a leader in the foldables market in China, is now facing tough competition from local brands like Huawei, Honor, Vivo, Oppo, and Xiaomi. The Korean giant’s share of the foldable smartphone market in China has seen a significant decline according to recent data from IDC.
Key Points:
– Samsung’s share of China’s foldable smartphone market dropped to 5.9% in Q1 2024 from nearly 30%.
– Huawei leads the pack with a market share of 44.1%, followed by Honor at 26.7%, Vivo at 12.6%, and Oppo at 9%.
– Chinese manufacturers have caught up with Samsung’s technological edge over time.
– Geopolitical factors impacting Samsung’s overall market share in China have also affected its foldable phone share.
In a country where “patriotic consumption” is on the rise, consumers are showing a preference for products from local Chinese companies. Despite Samsung’s superior features, many customers are opting for Chinese alternatives. This poses a challenge for Samsung as it tries to regain lost ground in the Chinese market.
As competition heats up and consumer preferences shift towards local brands, Samsung may face further challenges ahead in maintaining its position as a top player in the foldables segment. Stay tuned for more updates on how Samsung plans to navigate this changing landscape in China.
