The foldable smartphone market is rapidly expanding, and Samsung is currently dominating the industry with an enormous lead over its competitors. According to a recent Financial Times report based on Canalys research, Samsung shipped more foldable devices than all other OEMs combined in 2022. Accounting for a little under 12 million of the 14.2 million total shipments in the folding phones market. In comparison, Huawei shipped fewer than 2 million foldable phones. While Oppo, Vivo, Xiaomi, and Honor each shipped under 1 million foldable devices throughout the year.
Samsung is dominating the foldable smartphone market
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Even though the global release of the Razr foldable phone took place in 2022, Motorola was the least successful OEM. Recording only around 40,000 Razr shipments. This small figure pales in comparison to Samsung’s nearly 12 million shipments. However, the foldable market as a whole seems to be in a relatively good situation. With yearly foldable phone shipments increasing year on year.
Despite the fact that 2022 was the worst year for smartphones, foldable or not, the Financial Times report estimates that foldable smartphone shipments will double in 2023 and reach 30 million. This is due in part to Samsung’s ambitious plans. To ship roughly 15 million Galaxy Z Fold 4 and Galaxy Z Flip 4 devices combined. Although the company may not reach this goal by August-September when the Z Fold 5 and Z Flip 5 are expected to be unveiled, the next-gen foldable phones will likely help Samsung achieve its 15 million shipment target by the end of 2023.
The rapid growth of the folding phones market can be due to several factors. Including the increasing demand for larger displays and the desire for more innovative technology. Foldable smartphones offer users a unique and futuristic experience that traditional smartphones cannot match. This is particularly appealing to tech fan consumers who are always looking for the next big thing in mobile technology.
The success of the foldable smartphone market also highlights the importance of innovation in the technology industry. Companies that are willing to take risks and push the boundaries of what is possible are often the ones that come out on top. Samsung’s dominance in the folding phones market is proof of this fact. And it is likely that other companies will follow suit in the coming years.