According to DSCC, foldable smartphones had a record quarter in terms of sales in the third quarter of this year (July to September), fueled by Samsung’s launch of the Galaxy Z Fold5 and Z Flip5. The increased competition from China also played a significant role.
Sales of foldable devices rose by 215% from the second quarter of 2023 and 16% from the third quarter of 2022 to 7 million units, eclipsing the previous peak of 6.1 million reached in the previous quarter.
Samsung’s market share was 72%, dominant but down from 86% last year. Next, perhaps surprisingly, was Huawei with 9%, followed by Honor at 8%. Samsung had the two best-selling models – the Z Flip5 had 45% of the market, while the Fold5 captured a 24% share. Huawei’s Mate X3 and Honor’s Magic V2 each had 6%.
In Q4, or October to December, DSCC expects foldable smartphone sales to fall by 35% compared to Q3, while rising by 47% compared to Q4 2022. This is due to lower-than-expected shipments for Samsung this quarter, along with some delays in new product launches. Samsung’s brand share is expected to drop to 42%, well below last year’s 83%.
On the other hand, Huawei is said to rise to 21% of the market, closely followed by Honor at 19%. The Mate X5 should rise to the number 2 model ranking with a 15% market share, trailing the Z Flip 5 at 22% and surpassing the Fold5. The Honor Magic V2 will rise to the third position, also overtaking the Fold5, which will only manage a 12% share.
For the full year 2023, foldable sales are expected to rise by 23% compared to 2022 to 15.8 million units. The top five models for the entire year are going to be, in this order, the Galaxy Z Flip5, the Z Fold5, the Z Flip4, the Honor Magic V2, and the Huawei Mate X5.