The launch of Samsung's Galaxy Z Flip 5 and Galaxy Z Fold 5 in July this year helped the growth.
Samsung Galaxy Z Fold 5, Galaxy Z Flip 5 (pictured) were launched in July this year
Photo Credit: Samsung
Foldable smartphones were more popular in the third quarter of 2023 than was anticipated earlier, according to a new report. The shipments of foldable smartphones and their panels surged in the quarter due to two major reasons, as per the numbers revealed in the study - firstly, the launch of Samsung's Galaxy Z Flip 5 and Galaxy Z Fold 5 in July this year and secondly, the sheer rise in the number of foldable smartphones launched from different brands, especially in China.
According to the Display Supply Chain Consultants (DSCC) report, the shipments of foldable smartphones in Q3 2023 rose 215 percent Quarter-on-Quarter and 16 percent Year-on-Year to 7 million units. This is 1 percent above the outlook and surpasses the earlier record of 6.1 million units in Q3 2022 by 16 percent. South Korean OEM Samsung led market share in the quarter with 76 percent, with leading demands in European markets, as per the report.
Huawei claimed the second spot in the market share at 9 percent. The company launched the Huawei Mate X3 in March this year with a Snapdragon 8+ Gen 1 SoC and a 4,800Ah battery with 66W wired and 50W wireless charging support. The book-style foldable carries a 7.85-inch (2,224x2,496 pixels) OLED inner display and a 6.4-inch OLED (1,080x2,504 pixels) cover panel.
Honor grabbed onto the third spot with an 8 percent market share with its Magic V2 model. This is another book-style foldable smartphone launched in China. It is backed by a Snapdragon 8 Gen 2 SoC and a 5,000mAh battery with 66W Honor SuperCharge support. This phone features a 7.92-inch interior display with a resolution of 2,344 x 2,156 pixels, and a 6.43-inch outer screen with a resolution of 2,376 x 1,060 pixels.
The DSCC report added that in Q4 2023, foldable smartphone shipments are expected to fall 35 percent QoQ and rise 47 percent YoY to 3.6 million. Samsung's brand share is also expected to take a tumble to land at 42 percent, according to the report.
DSCC CEO Ross Young noted that the entry of new players in the foldable smartphones market with Google Pixel Fold, OnePlus Open, Tecno Phantom V Flip and Tecno Phantom V Fold has helped this rise in shipments.
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