Global foldable smartphone shipments drop in Q3 2024, Samsung’s lead weakens even after Galaxy Z Fold 6: Counterpoint | Tech Tips

Following a strong performance in the second quarter (Q2) of 2024, where global foldable smartphone shipments saw a 48 percent year-on-year (YoY) growth, the third quarter witnessed a 1 percent YoY decline, according to a new report by Counterpoint.

It mentions that Samsung maintained the top spot, but its market share dropped even after the launch of the Galaxy Z Fold 6 and Galaxy Z Flip 6. Here’s how Samsung and other smartphone brands performed in the third quarter of 2024.

Global foldable smartphone shipments declined

• Counterpoint Research notes that the South Korean tech giant retained the top spot with a 56 percent market share. However, its unit shipments fell by 21 percent YoY.
• According to the report, the Samsung Galaxy Z Fold 6 performed moderately, while the Galaxy Z Flip 6 did not match the sales of its predecessor.
• This decline was partly attributed to increasing competition from China, where Samsung held an 8 percent share in the third quarter, compared to 82 percent outside China.
• Chinese brand Huawei experienced growth in foldable shipments, driven by strong demand for the Huawei Mate X5 and Pocket 2 in the home country.
• Xiaomi recorded the highest YoY shipment growth at 185 percent, and its global shipment share reached 6 percent in the third quarter of 2024.
• Phone brands, including Motorola and Honor, were among the fastest-growing brands in the foldable market, benefiting from flagship launches in mid-2024.

Additionally, the report highlighted that Samsung is facing growing competition in North America from Motorola, which offers a range of sub-$1000 Razr flip foldables, and in Western Europe from Honor, which has launched its Magic V series.

Meanwhile, Huawei continued to show YoY growth, but its Nova Flip and the Mate XT, a tri-fold device, saw lower shipments compared to its existing models. Huawei is expected to boost shipments further with the release of the Mate X6 in the fourth quarter (Q4).

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