Samsung has been the leader in the foldable phone market for many years and despite lower-than-expected sales of the fifth-generation foldable, the tech giant still took the crown in the fourth quarter of 2023. Samsung led the market in Q4 2023 with lower-than-expected sales of its Galaxy Z Flip5 and Z Fold5.
But now it seems that Samsung may slip to second place in the foldable phone market in the first and second quarters of 2024.
According to the DSCC report, Huawei is expected to overtake Samsung’s foldable phone market share for the first time in the first and second quarter of 2024, thanks to the newly released Mate series.
Furthermore, Huawei is expected to boost the Q1 2024 foldable phone market by 105% Y/Y. However, Samsung is expected to regain the lead in the second half of 2024 and remain ahead with a big advantage over Huawei throughout 2024. In Q4 2023, foldable smartphone shipments grew 33% year-on-year to 4.2M, the fourth-highest figure ever.
Whereas, Huawei and Honor gained share in Q4 2023. Among the top 10 best-selling models, Samsung had four, Honor and Oppo had two each, and Huawei and Xiaomi had one each. Samsung Galaxy Z Flip 5 was the best-selling model, followed by Huawei Mate X4, Honor Magic VS2, Galaxy Z Fold 5, and Oppo Find N3 Flip.
