Samsung has been the king of the foldable smartphone market since the launch of the Galaxy Fold in 2019. However, the company will lose its crown soon, at least as per a new report. And it would be none other than Huawei that would steal Samsung's crown.
Huawei could overtake Samsung in foldable smartphone market in Q1 and Q2 2024
According to a new Display Supply Chain Consultants (DSCC) report, Samsung will lose its number-one ranking in the global foldable smartphone market in Q1 2024. Apparently, Samsung was the biggest foldable smartphone brand in Q4 2023 despite lower-than-expected sales of the Galaxy Z Flip 5 and the Galaxy Z Fold 5. Honor and Huawei gained market share in that quarter.
23 different foldable smartphones were shipped globally. Four out of the top ten best-selling foldable smartphones in Q4 2023 were from Samsung, while Honor and OPPO had two phones each on the list. Huawei and Xiaomi had one phone in the top ten best-selling foldable smartphones list. The Galaxy Z Flip 5 was the world's best-selling foldable phone in Q4 2023, while the Huawei Mate X4 ranked second. The Honor Magic VS2, Galaxy Z Fold 5, and OPPO Find N3 Flip ranked third, fourth, and fifth, respectively.
In Q1 2024 and Q2 2024, Huawei is expected to overtake Samsung in the foldable smartphone market with the help of the Mate X5 and the Pocket 2. However, Samsung is expected to make a strong comeback in the second half of this year and lead the overall sales for 2024. 27 new foldable smartphones are expected to launch this year.
While Samsung is expected to launch Galaxy Z Fold 6 Ultra, OPPO and Vivo might abandon their flip phone lineup in 2024
Due to the lack of profit margins and demand for flip phones in China, OPPO and Vivo are expected not to launch successors to their flip phones. So, the sales of foldable smartphones from OPPO and Vivo are expected to fall in 2024. On the other hand, Samsung is rumored to come with a pricier version of the Galaxy Z Fold 6. It could be named the Galaxy Z Fold 6 Ultra and could have a built-in S Pen slot and better cameras.
