Last year, an estimated 15.9 million foldable phones were shipped, as reported by the latest TrendForce report. This represents a 25% increase year-on-year and has led to foldable devices now holding a combined 1.4% market share of all smartphone shipments. The low adoption rate of foldable devices is primarily driven by their high price points and concerns about durability, according to TrendForce.
Global Foldable Smartphone Market Share 2023-2024 (TrendForce)
Samsung maintained its dominance as the leading foldable smartphone vendor with a 66% share of the market, although this figure dropped by over 17 percentage points from 2022. Samsung’s share of the foldable market is expected to decline to 60% in 2024.
Huawei followed in a distant second with just under 12% market share, largely due to strong demand for its foldable devices in the Chinese market. TrendForce predicts that Huawei could capture more than 20% of the foldable market in 2024. Xiaomi was the third leading OEM in terms of foldable shipments, with a market share of 5.4%.
Looking ahead, TrendForce has estimated 17.7 million foldable shipments in 2024 – an 11% increase. Foldable devices are also estimated to reach a 2% market share by 2025.