Samsung faces heat as Huawei rises in growing foldable market

Smartphone vendors betting big on the foldable smartphone segment. A new report indicates that Huawei continues to bolster its presence in the foldable segment, with Samsung facing heat despite dominating the market.

According to TrendForce, 15.9 million foldable phones were shipped globally in 2023, marking a 25% YoY increase. In particular, Samsung led the market with a whopping 60% share, while Huawei occupied nearly 20% of sales.

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Samsung continues to keep the crown in the market, but with shares sliding from 80% in 2022 to under 70% in 2023. Huawei’s shipments have risen to 12% in 2023, during the same period, with the February 2024 graph reaching ~ 20%. Vendors like Xiaomi, Oppo, and Vivo have kept their shares below 10%.

While Samsung is aiming to maintain its foldable phone market share at around 60%, consistent with its 2023 target, Huawei is aggressively boosting its foldable phone shipments, aiming for a market share that could surpass 20%, the report says.

While the foldable market continues to grow, the growth rate dropped last year. The biggest concern among consumers is frequent maintenance issues, leading to a lack of confidence in the product.

// Source