Counterpoint: Samsung's global foldable screen shipments plummeted 42% year-on-year in Q1 2024

Samsung, which once had an absolute advantage in the foldable screen mobile phone market, has now seen its share of the Chinese market fall to 3%, a drop of more than 15 percentage points compared to the first quarter of 2023. At the same time, the entire Chinese foldable screen market still showed a high growth rate of 105%, and the shipment growth rate of Chinese brands was rapid, in sharp contrast to the plummeting market share of Samsung.

Data from Counterpoint Research shows that in the first quarter of 2024, Samsung's global foldable screen shipments plummeted 42% year-on-year, and its market share dropped 25 percentage points year-on-year, losing its long-standing position as the world's number one.

At the same time, Huawei became the top brand in the global foldable screen market with a shipment growth rate of 257% and a market share of 35%. The growth rates of Honor and Motorola reached 460% and 1473% respectively.

Samsung was once a pioneer in the foldable phone market, and the Galaxy Fold released in 2019 once led a new trend in the smartphone industry. However, with the strong rise of Chinese brands, Samsung's market position is facing unprecedented challenges.

According to statistics, by the third quarter of 2021, Samsung's global share of foldable screens was as high as 93%, but by the first quarter of this year, Samsung's global share of foldable screens plummeted to 23%, and the remaining 77% of the market was almost occupied by Chinese brands.

Chinese brands such as Huawei, Honor, vivo and OPPO have demonstrated obvious competitive advantages in terms of price and innovation. In addition, with the support of a mature domestic supply chain, the innovative technologies of domestic folding screen mobile phones can be quickly implemented at a lower cost.

Zikuai Technology