Foldable smartphone sales break record in Q3, Samsung to lose significant share in Q4
According to DSCC, foldable smartphones have had a record breaking quarter, in terms of sales, in the third quarter of this year (July to September), fueled by Samsung’s launch of the Galaxy Z Fold5 and Z Flip5. The increased competition from China also played a significant part.
Sales of foldables jumped 215% compared to Q2 2023 and 16% compared to Q3 2022 to 7 million units, eclipsing the previous peak of 6.1 million which was reached in the year-ago quarter.
Samsung’s market share was 72%, dominating but down from 86% last year. Next up, perhaps surprisingly, was Huawei with 9%, followed by Honor at 8%. Samsung had the two best selling models – the Z Flip5 had 45% of the market while the Fold5 captured a 24% share. Huawei’s Mate X3 and Honor’s Magic V2 each had 6%.
In Q4, aka October to December, DSCC expects foldable smartphone sales to fall 35% compared to Q3, while rising 47% compared to Q4 2022. This is due to lower than expected shipments for Samsung this quarter, along with some delays in new product launches. Samsung’s brand share is expected to fall to 42%, which would be well below last year’s 83%.
On the other hand, Huawei is said to surge to 21% of the market, followed closely by Honor at 19%. The Mate X5 should rise to the No.2 model ranking with a 15% market share, following the Z Flip 5 at 22% and surpassing the Fold5. The Honor Magic V2 will rise to the third position, thus also overtaking the Fold5, which will only manage a 12% share.
For the full year 2023, foldable sales are expected to rise 23% compared to 2022 to 15.8 million units. The top five models for the entire year are going to be, in this order, the Galaxy Z Flip5, the Z Fold5, the Z Flip4, the Honor Magic V2, and the Huawei Mate X5.
