Counterpoint Research today released its Global Foldable Smartphone Market Share Report for the third quarter (Q3 2024). It notes that the foldable smartphone market declined by 1% between July and September this year. Samsung continues to dominate the market, remaining ahead of mostly Chinese OEMs.
Samsung maintains its top spot in the global foldable smartphone market
Although the foldable market saw a 1% year-on-year decline this quarter, it hasn’t shaken Samsung’s top spot. The Korean biggie continues to lead with a solid 56% share, followed by Huawei (15%), Honor (10%), Motorola (7%), and Xiaomi (6%). The rest of the percentage is captured by others.
Interestingly, Samsung is the only non-Chinese OEM to hold the lion’s share of the global foldable smartphone market. This year, the company faced some tough competition from Huawei’s Mate XT, a tri-fold smartphone exclusive to the Chinese market. However, the launch of the Galaxy Z Flip 6 and Galaxy Z Fold 6 helped it retain the lead.
Samsung launch launched the Galaxy Z Fold Special Edition this year, but it arrived in the fourth quarter. It is only available in South Korea and China, where it’s sold with a different name — the Samsung W25.
Samsung’s foldable competition is growing, however
While Samsung has managed to hold onto its number 1 spot compared to Q3 2023, the competition is heating up. Its market share, which was a staggering 70% in Q3 2023, dropped to 56% in Q3 2024 — a 21% decline.
On the other hand, Xiaomi saw the biggest year-on-year growth, with shipments up by an impressive 185% compared to Q3 2023. It’s followed by Motorola (164%) and Honor (121%). A big part of Xiaomi’s success is credited to its first clamshell launch, the Mix Flip, according to CR.
Looking ahead, anticipation is building for what Q3 2025 will bring for Samsung. Expectations are high for an affordable clamshell foldable, the Galaxy Z Flip FE. There are also reports of a possible tri-fold device in the works, which could be the world’s first global model, as the Huawei Mate XT isn’t available globally.
