According to DSCC, Samsung’s release of the Galaxy Z Fold5 and Z Flip5 during the third quarter of this year (July to September) propelled foldable smartphone sales to a record-breaking quarter. An important contributing factor was also China’s growing competition.
Foldables sales surged to 7 million units, surpassing the previous high of 6.1 million units, which was attained in the quarter prior, up 215% from Q2 2023 and 16% from Q3 2022.
Samsung continued to lead the market with a 72% share, down from 86% the previous year. Unexpectedly, Huawei came in second with 9%, then Honor with 8%. The Z Flip5 and Fold5 were Samsung’s two best-selling models, with 45% and 24% of the market share, respectively. Honor’s Magic V2 and Huawei’s Mate X3 both had 6%.
The DSCC projects foldable smartphone sales in Q4, or October to December, 2022, to increase 47% over Q3 and decrease 35% over Q3. This is because Samsung’s shipments this quarter were lower than anticipated and some new product launches were delayed. It is anticipated that Samsung’s brand share will drop to 42%, significantly less than the 83% it had last year.
Conversely, Huawei is predicted to rise to 21% of the market, with Honor coming in second at 19%. With a 15% market share, the Mate X5 is expected to overtake the Fold5 and move up to the No. 2 model ranking, trailing the Z Flip 5 (22%). The Fold5, which will only manage a 12% share, will be surpassed by the Honor Magic V2, which will move up to the third spot.
Foldable sales are predicted to reach 15.8 million units in 2023, a 23% increase over 2022. The Galaxy Z Flip5, Z Fold5, Z Flip4, Honor Magic V2, and Huawei Mate X5 are the top five models for the entire year, in that order.
