An estimated 15.9 million foldable phones were shipped last year as per the latest TrendForce report. The figure represents a 25% year-over-year rise and saw foldables climb up to a combined 1.4% market share of all smartphone shipments. TrendForce suggests the low adoption rate of foldables is mainly driven by their high price points and durability concerns.
Global foldable smartphone market share 2023-2024 (TrendForce)
Samsung continued its dominance as the leading foldable smartphone vendor with a 66% share of the market but the figure dropped by over 17 percentage points from 2022 values. Samsung’s snare of the foldable market is expected to drop down to 60% in 2024.
Huawei came in a distant second place at just under 12% market share thanks to strong demand for its foldables in the Chinese market. TrendForce predict that Huawei may capture upwards of 20% of the foldable market in 2024. Xiaomi was the third leading OEM in terms of foldable shipments with a 5.4% market share.
Looking ahead, TrendForce estimated 17.7 million foldable shipments in 2024 – which would represent an 11% rise. Foldables are also estimated to reach a 2% market share by 2025.
