Samsung’s foldable phones have been shipped four times more foldable phones this year than in 2020, exceeding analyst expectations. Industry watchers estimated a three-fold growth rate for Samsung’s foldable shipments. According to previous estimates, the Galaxy Z Flip 3 alone accounted for around 60 per cent of all foldable phone shipments in Q3. Read to know the full details:
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The Era of Foldable Phones
Samsung Electronics explained that the sales of Galaxy Z Fold 3 and Galaxy Z Flip 3 surpassed last year’s total foldable phone sales within a month of its release. The sales of the brand’s foldable phones were about two million units last year. Samsung Electronics said many customers who used smartphones from other brands changed to the Galaxy Z series.
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Samsung explained that the number of users who changed their smartphones to Galaxy Flip 3 increased 1.5 times compared to the Galaxy Note 20 and 1.4 times compared to the Galaxy S21. While Samsung didn’t reveal the total number of foldable phones it sold, a recent Counterpoint Research report on the latest foldable smartphones predicted that the shipments for 2021 will be around nine million units, a threefold increase over 2020.
As per a report on foldable smartphones, the market will see 10x growth in shipments by 2023. It also predicts, Samsung will have a nearly 75 per cent market share even if other OEMs jump into the foldable smartphone space. Currently, Samsung has an 88 per cent market share, as suggested by the report.
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