Business
Samsung to grab 88% share of worldwide foldable phone market by 2023
Instead of the bar like mobile phones, smartphone OEMs are preparing to put the innovative foldable screen handsets into their mainstream as part of following the future era. No doubt, the popularity of folding-screen phones is growing rapidly, they will surely grab the place in the mainstream.
Recently, Counterpoint Research released their latest report, which shows the shipment forecast of foldable smartphones. According to the report, the shipments of bendable models for 2021 will remain in single digit at around 9 million units.
However, it will still be a 3x growth over 2020, with Samsung dominating with over 88% market share. Therefore, Counterpoint researchers pointed out that a 10x growth in foldable smartphone shipments by 2023.
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As Samsung is going to introduce its next-generation foldable smartphones at August 11’s Unpacked event, it’s expected that Galaxy foldable shipments to grow significantly, driven by improved design and hardware, and competitive pricing.
At the same time, it’s reported that Samsung continues dominating with nearly 75% market share even with more OEMs entering the foldable smartphone market.
If Apple will release its foldable phone by 2023, it won’t only be an inflection point in taking foldable mainstream but also improve the component yield and scale for the entire supply chain.
TM Roh, President and Head of Mobile Communications Business at Samsung said:
The new Galaxy Z-series will focus on “epic cameras and vivid, immersive viewing experiences to long-lasting batteries and strong security”. He further confirmed that the upcoming Z-series foldable smartphones would include S Pen support, bringing new display innovation. Samsung is looking to appeal to business users and prosumers, and it makes sense as the larger canvas to interact with makes it a great productivity tool.
Samsung ranked first in market share in the global smartphone market in Q3, 2023. TrendForce report says that Samsung led the global Q3 smartphone market, recording a market share of 19.5%.
Overall production in the third quarter increased by 11.5% compared to the previous quarter to 60.1 million units. During the same period, Apple’s production increased by 17.9% to 49.5 million, thanks to iPhone 15.
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Third place was taken by Xiaomi (13.9%), followed by Oppo (12.6%) and Transion (8.6%). 6th place is Vivo (8%). Meanwhile, global smartphone production reached 308 million units, a 13% increase compared to the previous quarter and a 6.4% increase from the previous year.
Huawei’s re-entry into the flagship smartphone market targeting Apple has had a significant impact in China. Huawei is aiming to expand its high-end flagship series, focusing on the Chinese domestic market next year, so Apple “We plan to attack directly”.
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In Q3 2023, Samsung and Apple’s market share slightly declined, while an underdog Chinese phone brand appeared on the top 5 chart. In a recent development, Canalys published market research data for the third quarter, revealing Tanssion as the fifth best-seller globally.
According to the info, Samsung and Apple lead total sales with 20% and 17% market share, yet both have fallen from their 22% and 18% levels in 2022. However, Tanssion, the maker of Tecno, Itel, and Infinix phones, climbed from 6% global market share last year to 9% in 2023, a 50% jump.
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Apart from this, Xiaomi matched last year’s share only by “recovering” from a terrible first half of 2023. At the same time, OPPO has fallen steadily over the past two years, while fellow BBK brand vivo lost the top-5 slot it’s owned for years.
Overall, the global smartphone market underwent a slight drop of 1% in Q3 2023. Bolstered by regional recoveries and new product upgrade demand, the smartphone market recorded a double-digit sequential growth in Q3, ahead of the sales seasons.
Recently, research agency Counterpoint Research published their latest analysis. The report reveals that Samsung continued its leadership in the third quarter of 2023, while Apple remained in the second spot. However, both OEMs faced a decline of 1 percent year over year.
According to CR, slower consumer demand is the main factor in the dwindling sales. The market did see a slight 2 percent growth in Q3 compared to Q2, likely driven by last month’s iPhone 15 series launch. Samsung secured 20 percent market share, while Apple grabbed 16 percent sales.
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The Galaxy A-series was the key driver for the South Korean smartphone maker. Apple came in second with 16 percent of the market while Xiaomi rounded out the top three with its 12 percent share. Oppo (10 percent) and vivo (8 percent) were the remaining brands in the top five charts.
The newly released iPhone 15 series will help Apple score a lead over Samsung in the fourth quarter of the year. The results will arrive by early next year, and it’s expected that the US phone maker could surpass Samsung. Major camera upgrades and USB-C helped Apple register strong sales.