Counterpoint Research reports that shipments of foldable smartphones fell 1% year over year in Q3 2024, marking the first fall in the worldwide market. Samsung’s market share dropped to 56% despite the release of the Galaxy Z Fold6 and Z Flip6, which represented a notable 21% drop in unit shipments over the prior year. It indicates increased rivalry and possible difficulties with consumer demand in the foldable market. 

Also Read: Why Waiting to Invest in Lakeshore City Could Lead to Missed Opportunities

Xiaomi, Motorola, Honor, and Huawei profited from the rising demand for various foldable choices while Samsung suffered. Xiaomi’s first clamshell foldable, the Mix Flip, now available outside of China, significantly influenced the company’s most considerable year-over-year shipping growth. 

With the Razr 50 line of foldable phones, which retailed for less than $1,000 and were quite popular in North America, Motorola solidified its position. Honor, however, kept expanding with its Magic V3, a remarkably thin foldable that was hailed for its creative design. 

Due to the robust sales of its Mate X5 and Pocket 2 models, Huawei was able to sustain its momentum in China. Huawei’s shipments were further increased by additions like the Mate XT Ultimate and Nova Flip, even though these products have yet to make it to other markets. 

The Z Fold6’s lackluster performance and the Z Flip6’s poor sales demonstrate Samsung’s mounting difficulties. Counterpoint Research claims that the brand’s strength has been further weakened by its small market share in China, which only accounts for 8% of the foldable market. 

With competitors providing creative designs, better pricing, and more robust regional strategies, this change indicates increased competition and is gradually weakening Samsung’s market dominance in foldables.