The first six months of 2024 have been complicated for Samsung’s folding smartphones. While its market shares gradually declined in 2022 and 2023, it was finally overtaken by Huawei in the second quarter of 2024, according to new data from IDC. Indeed, during this period, Samsung had a market share of 16.4%, compared to 27.5% for Huawei. But in the third quarter, Samsung made a spectacular jump. Indeed, thanks to the Galaxy Z Fold6 and the Galaxy Z Flip6, Samsung’s market share rose to 51.2%, compared to 13.2% for Huawei. Its closest competitor in the third quarter was Lenovo, whose market share was 15.1%.
The expected growth of the #foldablesmartphone market for 2024 (+22%) is over 3x greater than the total smartphone market growth we expect for 2024 (5.8%).
Stay on top of the trends in the #smartphone market with IDC: pic.twitter.com/SJUiVNemct
— IDC (@IDC) November 14, 2024
Samsung takes back the reins
According to Nabila Popal, senior research director at IDC, despite its technical prowess, Huawei has struggled to maintain the leadership position acquired 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 worldwide. 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.
Otherwise, Samsung has already discussed 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.
It shouldn’t surprise anyone, but there it is in print from Samsung: next year’s flagship will be called the S25 pic.twitter.com/tuqE6flKpc
— Bryan Ma (@bryanbma) October 31, 2024
A rapidly growing market
Although folding 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% in 2024. Scarsella explains that even if prices for folding smartphones remain high, the firm is observing a gradual drop in prices which is boosting growth. of the folding smartphone market.
Otherwise, IDC also highlights the important role of the Chinese market, which had a 46% share of global shipments of folding smartphones between the first and third quarters.
- In the second quarter of 2024, Samsung’s folding smartphone shipments were overtaken by Huawei
- But in the third quarter, Samsung regains its leadership position thanks to a huge jump
- According to IDC, its market share increased from 16.4% in the second quarter to 51.2% in the third quarter.
- 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 22% growth in folding smartphone shipments in 2024
