Samsung is the only major smartphone manufacturer that’s shipping foldable smartphones at scale across the globe. This has provided the company with an incredible first-mover advantage. No other company is in the position of challenging it right now.
This has enabled Samsung to establish total domination over the global foldable smartphone market. So it doesn’t come as a surprise to hear that its control over the market will remain firm in 2021.
Samsung is the one to beat in the foldable market
The latest data from Counterpoint Research shows that Samsung is likely going to clinch an 88 percent market share for foldables. The size of the market is expected to triple from a year earlier to around 9 million units. Samsung is expected to account for 88 percent of the market.
It obviously doesn’t hurt that there’s no other company that can match Samsung’s progress in foldables. Samsung is going to unveil two new foldable smartphones at its August 11 event. They’re expected to bring major improvements while also costing less than their predecessors.
This will enable the company to sell a lot more foldable smartphones. This early dominance will help Samsung down the line as well. It’s expected that the foldable market will be 10 times bigger in 2023 than it was in 2020.
Samsung is predicted to be the top player at that with a 75 percent market share even if other manufacturers like Apple seriously start competing as well.