Samsung makes spectacular leap and once again becomes leader in foldable smartphones

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The first six months of 2024 have been tough for Samsung’s foldable smartphones. While its market share gradually declined in 2022 and 2023, it was finally overtaken by Huawei in the second quarter of 2024, according to new data from IDC. In fact, during that period, Samsung had a market share of 16.4%, compared to Huawei’s 27.5%. But in the third quarter, Samsung made a spectacular leap. Indeed, thanks to the Galaxy Z Fold6 and Galaxy Z Flip6, Samsung’s market share rose to 51.2%, compared to Huawei’s 13.2%. Its closest competitor in the third quarter was Lenovo, which had a market share of 15.1%.

Samsung Takes Back the Reins

According to Nabila Popal, senior research director at IDC, despite its technical prowess, Huawei struggled to maintain the leadership position it gained in the second quarter due to its limited presence in the Chinese market. Samsung, for its part, launched the Galaxy Z Flip3 and Galaxy Z Fold3 globally. In addition to benefiting from technical improvements, these devices also offer new features based on generative artificial intelligence via Galaxy AI. In Korea, Samsung also launched the Galaxy Z Fold SE, which is a huge hit. As reported by our colleagues at Sammobile, this model was out of stock, a few minutes after its release.

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Otherwise, Samsung has already mentioned its strategy on the folding smartphone market, in 2025. During the presentation of its third quarter results, the manufacturer indicated that it intends to innovate in terms of design and optimize artificial intelligence for the foldable smartphone format.

A Market in Strong Growth

Although foldable smartphones represent only a portion of the entire smartphone market, it is growing strongly. According to Anthony Scarsella, research director at IDC, this segment of the smartphone market is expected to grow by 22% by 2024. Scarsella explains that even if the prices of foldable smartphones remain high, the firm observes a gradual decline in prices that is boosting the growth of the foldable smartphone market.

Otherwise, IDC also highlights the important role of the Chinese market, which had a 46% share of global foldable smartphone shipments between the first and third quarters.

• In Q2 2024, Samsung's foldable smartphone shipments were overtaken by Huawei
• But in Q3, Samsung regains its leadership position thanks to a huge jump
• According to IDC, its market share increased from 16.4% in Q2 to 51.2% in Q3
• While Samsung has ensured the launch of its new models, Huawei is penalized by its presence which is limited to the Chinese market
• Otherwise, IDC predicts a growth of 22% in foldable smartphone shipments in 2024

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