In recent years, technology has advanced significantly. In this context, foldable versions of mobile phones, considered a major breakthrough and previously thought impossible, have begun to be produced. Of course, this has led to intense competition.
Many brands, from Samsung to Xiaomi, and from vivo to Huawei, operate in the foldable smartphone market. In this regard, companies continue to develop new models to outpace their competitors, which also affects market shares. So, what is the current situation in the foldable smartphone market? Here are the details…
Foldable Smartphone Market Report
Market research firm TrendForce has shared a report on the foldable smartphone market for the years 2023 and 2024. According to this data, 15.9 million units were sold last year, accounting for 1.4% of all phone sales.
Interest in foldable smartphones is increasing every year. This trend seems to continue in 2024 as well. It is estimated that 17.7 million foldable smartphones will be sold this year, indicating an increase in demand.
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According to the data, Samsung leads the foldable smartphone market with a 60% market share. The market share of the South Korean company was 66.4% last year. Therefore, it can be said that there has been a decrease in sales.
Huawei, which has been subjected to US sanctions for the past few years due to its alleged ties to the Chinese government, ranks second with a 19.8% market share. The Chinese company, which had a 11.9% share of the market last year, has shown impressive growth. Various sources suggest that the brand will continue this growth.
The third position is occupied by Xiaomi, the rising star of Asia. The company’s market share is stated as 5.4%. Although not very high, there has still been growth compared to last year’s 5.3%.
In addition to Samsung, Huawei, and Xiaomi, the total market share of all brands such as vivo and OPPO is stated as 14.5%. You can find all the data below.
Brand 2024 Market Share 2023 Market Share Sales
- Samsung 60% 66.4% Decreased
- Huawei 19.8% 11.9% Increased
- Xiaomi 5.4% 5.3% Increased Others 14.5% 16.4% Decreased
