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Global foldable smartphone shipments decline in Q3 2024, Samsung’s lead weakened even after Galaxy Z Fold 6: Counterpoint

November 29, 2024

According to a new report from Counterpoint, after 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 saw a decline of 1 percent. Went. ,

It mentioned that Samsung retained the top spot, but its market share also declined after the launch of the Galaxy Z Fold 6 and Galaxy Z Flip 6. Here’s how Samsung and other smartphone brands performed in Q3 2024.

Global foldable smartphone shipments have declined

Counterpoint Research notes The South Korean tech giant retained the top position with 56 percent market share. However, its unit shipments declined 21 percent year-on-year.
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.
The decline was partly attributed to increased competition from China, where Samsung had an 8 percent share in the third quarter, compared with 82 percent outside China.
Chinese brand Huawei experienced a surge in foldable shipments due to strong demand for the Huawei Mate X5 and Pocket 2 in the home country.
Xiaomi recorded the highest shipment growth of 185 percent year-on-year, and its global shipment share reached 6 percent in Q3 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 notes that Samsung faces increasing competition from Motorola in North America, which offers a range of Razr Flip foldables priced under $1000, and increasing competition from Honor in Western Europe. , which has launched its Magic V series.

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