7 out of 10 Foldable Phones Are 'Galaxy'

Samsung Electronics Holds 73% Market Share in Foldable Phones
Foldable Phone Market to Double Next Year

[Asia Economy Reporter Han Jinju] It has been revealed that 7 out of 10 foldable phones are products of Samsung Electronics.

According to market research firm Counterpoint Research on the 24th, Samsung Electronics shipped 2.04 million foldable phones this year, recording a market share of 73%. The global foldable phone shipment volume this year is estimated to be 2.8 million units. Looking at the sales distribution of foldable phones by region, South Korea accounted for 26%, the second largest share. In addition, 29% were sold in Europe and 25% in China.

Samsung Electronics is leading the foldable phone market. This year, Samsung released three types of foldable smartphones: the Galaxy Z Flip, Galaxy Z Flip 5G, and Galaxy Z Fold2. Next year, it plans to launch more than three new foldable products, including the Galaxy Z Fold3 equipped with an S Pen.

Foldable Phone Shipments by Region (Source: Counterpoint Research)

The foldable smartphone market is expected to grow to 5.6 million units next year, doubling compared to this year. It is projected to grow to 17 million units by 2022. Although the foldable phone market is expanding, except for Huawei, there are no significant competitors, so Samsung's number one position is expected to remain solid. Huawei has also entered the foldable phone market, but due to US government sanctions, it is mainly selling in the domestic market and is struggling in the global market. The market is expected to grow significantly when Apple launches its first foldable phone in the second half of 2022.

Im Sujeong, a researcher at Counterpoint Research, analyzed, "Samsung is in a very advantageous position compared to other companies in terms of securing key components such as foldable display panels, so its absolute position in the market will continue for the time being," and added, "Due to Huawei's difficulties in business, the foldable phone market share is likely to increase next year."

Researcher Im explained, "While Samsung continues to test fold and flip form factors and gauge market reactions, major smartphone manufacturers including LG are mentioning rollable phones as their next strategic products, intensifying competition among OEMs to find the optimal form factor to lead the future smartphone market."