Samsung Leads Global Foldable Smartphone Industry With 56% Market Share Despite Global Q3 Shipments Decline: Report
Samsung has emerged as the leader in the global foldable smartphone market with a 56% share, despite a decline in overall shipments during Q3, according to a report.
New Delhi, November 26: Global foldable smartphone shipments declined 1 per cent in the third quarter this year -- its first-ever Q3 decline -- as Samsung reclaimed the top spot with a 56 per cent market share, a report said on Tuesday. The global foldable market appears to have entered a transitionary phase where it is facing challenges as it progresses from a niche segment to the mainstream, according to Counterpoint Research. “User satisfaction is particularly high with book-type foldable devices, but the prohibitively high prices remain the biggest obstacle to mass adoption,” said senior analyst Jene Park.
If manufacturers give serious consideration to improving price accessibility, along with achieving further technological reliability and enhancing consumer perceptions, this phase can be overcome, Park added. Samsung regained its position as the global market leader, driven by the Z6 series launch. However, the brand’s unit shipments fell 21 per cent (on-year). Among its new models, the book-type Galaxy Z Fold 6 delivered a modest performance, while the clamshell Galaxy Z Flip 6 struggled to match its predecessor’s sales. Xiaomi Developing Its Own Mobile Processor To Enter in Chip Industry, Likely To Skip Using MediaTek and Snapdragon Processors: Report.
As the foldables supply chain matures, Samsung is increasingly facing strong competition from in North America from Moto with its full range of sub-$1000 Razr flip foldables, and in Western Europe from Honor with its attractive and thin Magic V series book-type foldables Notably, Xiaomi recorded the highest YoY shipment growth among foldable brands at 185 per cent. Xiaomi Developing Its Own Mobile Processor To Enter in Chip Industry, Likely To Skip Using MediaTek and Snapdragon Processors: Report.
This growth was driven by the addition of its first clamshell model, the Mix Flip, and its official debut in markets outside China. The brand’s global shipment share rose to 6 per cent this quarter, its highest since entering the foldable market in Q1 2021, said the report. Honor and Motorola remained among the fastest-growing brands in the foldable market, both benefiting from their flagship devices launched in June and July, it added.
(The above story first appeared on LatestLY on Nov 26, 2024 03:34 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).