According to industry tracker Counterpoint Research on Tuesday, global shipments of foldable smartphones increased by more than 60 percent in the third quarter of this year, despite the fact that the market for smartphones as a whole remained relatively unchanged. This was primarily due to high sales of foldable devices manufactured by Samsung Electronics.
Between July and September, global shipments of foldable smartphones increased by around 63 percent year over year, reaching 6.08 million devices. According to the survey, foldable goods accounted for 2 percent of total smartphone sales during the given period, which is an increase from the 1.1 percent share they had during the same time period previous year. This comes despite the fact that the worldwide smartphone industry reported flat sales.
According to the findings of the market researcher, the phenomena may be attributed, in large part, to the high demand for Samsung’s Galaxy Z Fold 4 smartphones. During the time in question, the number of shipments of the foldable gadget increased by more than 60 percent. Shipments of foldable phones by Chinese businesses are another factor that might be linked to the rise in the statistic.
While Samsung has been the overwhelming leader in the worldwide market for foldable smartphones, rivals in the market for foldable smartphones throughout the globe are rushing to roll out new products in order to compete with the world’s No. 1 player. They want to strengthen their competition by offering phones that are lower in price yet have higher specifications.
Foreign press reports and industry insiders claim that the Chinese competitor Honor has introduced its second foldable handset, the Honor Magic, which folds into a square form when folded vertically, similar to the Galaxy Z line of smartphones. A stylus pen may be used with the smartphone as well.
Pocket S and Vivo X Fold Plus, two new foldable smartphones, were both introduced not too long ago by Huawei and Vivo, two other leading smartphone manufacturers based in the same nation as Samsung. The Galaxy Z Flip 4 and the Razr 2022 are just two of the worldwide opponents that the Oppo Find N2 intends to take on once it is officially unveiled.
In addition to the businesses based in China, Samsung’s long-time worldwide partner Google is also considering entering the competition to develop foldable smartphones. According to a report by Android Authority, Google is apparently contemplating adding a foldable model to its Pixel phone lineup, which will be unveiled in the future years. This information comes from a story that was published by Android Authority.
In spite of the intense competition in the market, industry analysts and competitive analysis specialists expect that Samsung will maintain its dominant position for the foreseeable future. According to Counterpoint Research, the number of foldable smartphones that will be sold throughout the globe this year is expected to approach about 16 million, representing a roughly 73 percent increase from the previous year.
According to the market tracker, Samsung’s market share in the first half accounted for 62 percent of the total, and its market share in the second half is predicted to reach up to 80 percent. In the first half, Samsung’s market share accounted for 62 percent of the total.