According to Counterpoint Research, the global foldable smartphone market experienced its first decline in Q3 2024, with shipments dropping by 1% year-over-year.
Despite Samsung’s launch of the Galaxy Z Fold6 and Z Flip6, the company’s market share fell to 56%, marking a significant 21% decrease in unit shipments compared to the previous year. This suggests growing competition and potential challenges in consumer demand in the foldable sector.
While Samsung struggled, Xiaomi, Motorola, Honor, and Huawei capitalized on the growing demand for diverse foldable options. Xiaomi recorded the highest year-over-year shipment increase, largely driven by the launch of its first clamshell foldable, the Mix Flip, available outside China.
Motorola strengthened its position with the Razr 50 series, offering sub-$1000 foldable phones that gained significant traction in North America. Meanwhile, Honor continued to grow with its Magic V3, an ultra-thin foldable praised for its innovative design.
In China, Huawei maintained momentum, driven by strong sales of its Mate X5 and Pocket 2 models. New additions like the Nova Flip and Mate XT Ultimate further boosted Huawei’s shipments, although these devices are yet to reach international markets.
The modest performance of the Z Fold6 and underwhelming sales of the Z Flip6 highlight Samsung’s growing challenges. According to Counterpoint Research, the brand’s limited presence in China, where it holds only 8% of the foldable market, has further impacted its power.
This shift signals increasing competition, with rivals offering innovative designs, improved affordability, and stronger regional strategies, steadily eroding Samsung’s leadership in the foldable market.
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