Global shipments of foldable phones expected to hit a new record during the current quarter

The foldable phone market seems to be the one bright spot in the smartphone industry this year. According to DSCC (Display Supply Chain Consultants), during the second quarter of this year, global foldable shipments rose a stunning 42% year-over-year and 16% over the first quarter of 2023 to reach 2.2 million units. Samsung was the top manufacturer of foldable phones during the second quarter having edged out Huawei in market share by a slight margin of 32% to 30%.

Huawei actually had the first and third top foldable models based on shipments. The Mate X3 was the most delivered phone from April through June while the clamshell Pocket S was third. Samsung had the second and fourth most shipped foldables in the second quarter in the Galaxy Z Flip 4 and Galaxy Z Fold 4 respectively. Vivo’s X Flip clamshell had the fifth position. Clamshell models led the way with a 53% slice of the foldable pie during Q2.

The leading supplier of foldable panels during Q2 was Samsung Display with a 63% share of all foldable models shipped which was down from the company’s 68% share a year earlier. It was the lowest market share for Samsung Display since the first quarter of 2021. China’s BOE saw its market share of foldable panels shipped decline from a record 32% during the first quarter of this year to 25% during Q2.

Samsung is expected to dominate the foldables market during the current quarter

Things continue to look good for the current quarter which includes the launch of Samsung’s new Galaxy Z Fold 5 and Galaxy Z Flip 5. For this quarter, DSCC expects to see foldable shipments hit a new record high with 6.9 million units delivered worldwide. That would be an annual gain of 10% from Q3 of 2022 and a whopping 200% improvement from the second quarter. DSCC expects Samsung to dominate during Q3 with a massive 72% share of the foldables market with no other brand approaching a double-digit share.

During last year’s third quarter, when Samsung released the Galaxy Z Fold 4 and Galaxy Z Flip 4, it held an incredible 86% share of the global foldable smartphone market. The lower number expected for this year’s Q3, while still showing domination by Samsung, will be lower due to the entrance of some new players in the foldable arena such as Google.

The Galaxy Z Flip 5 is forecast to hold a leading 45% of the foldable market during Q3 followed by the Galaxy Z Fold 5 and its forecast 20% share. The Huawei Mate X3, Honor Magic V2, and the Motorola Razr 40 Ultra will round out the top five. Clamshells will have a 55% share during Q3 forecasts DSCC, and Samsung Display will recover to grab its highest share of the foldable panel market, 78%, since Q4 of 2022.

Global shipments of foldable phones expected to hit a new record during the current quarter

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