The global market for foldable smartphones is witnessing a rapid expansion. This relatively new market, saw its first product release in 2019. Although late 2018 was when we began seeing teasers for a foldable smartphone like the Samsung Infinity Flex Displa. Currently, the increasing affordability and availability of foldable smartphones are key factors driving growth of these devices.
According to the data from Omdia, Huawei leads the market with a significant 39.8% share. Despite being a pioneer in foldable technology, Samsung trails behind with a 16.7% market share. Honor holds the third position with a 13.0% share. Several other players are making their presence felt in this competitive landscape. Vivo has secured an 11.3% share, while OPPO holds 7.0% of the market. Tech giants like Google and Xiaomi have also entered the race with a 5.6% and 3.1% share respectively. Tecno is not far behind with a 3.5% stake in the market. A quick glance at the statistics shows that Chinese brands have dominated this market.
Huawei for example has taken a hit in its overall smartphone sells, but has been consistently doing well in this sector. In 2022, Market researcher Trendforce notes that Huawei achieved a market share of around 10% after launching Huawei Mate Xs 2 side folding and Pocket S flip.
Despite, not having Google Mobile Services (GMS), the Huawei Mate X3 launched in March this year has performed really well in the market. Perhaps driven by patriotism, the device took 50% of the Chinese foldable phones market in the first half of the year. The launch of the Mate X5 strengthened Huawei’s position in the market with consumers attracted by the slim, light devices with big batteries.
Samsung Foldable Smartphone Plans
Samsung on its part has come out saying it aims to sell 20 million foldable smartphones next year. This statement comes after sales of its foldable phones topped those of Samsung Note generation. In 2022, the company held the largest global market share and is keen to get back to the top. However, Samsung will have to fend off Chinese manufactures like Xiaomi,Vivo who have cheaper models in the market.
The foldable smartphone market is still in its infancy. As technology advances and foldable smartphones become more mainstream, we can expect a dynamic shift in these market shares. Currently, prices remain a factor. A look at the list of the best foldable Smartphones to buy in Kenya shows that non is a budget phone. Samsung has tried to aid Kenyan buyers with a financing option.
Despite price, the market is growing, in the first half of the year Chinese shipment of foldable phones marked a 102 percent growth in numbers from the same period last year.