Samsung faces growing competition from Chinese foldables

2023. 10. 30. 16:30
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Galaxy Z Flip4 [Courtesy of Samsung Electronics]
Samsung Electronics, which dominates the foldable phone market, is seeing that dominance increasingly challenged by Chinese manufacturers. Companies like Huawei, Honor, and Oppo have been releasing a flurry of new foldable phone models in 2023, with over 10 new offerings collectively hitting the market in the year to date.

According to market tracker Counterpoint Research on Sunday, the global shipment of foldable phones in the second quarter of 2023 increased by 10 percent compared to the same period last year, totaling 2.1 million units. Among these, Chinese manufacturers accounted for a significant portion, shipping 1.23 million units to make up 58.6 percent of the total. This is a substantial increase from the 40 percent share Chinese foldable phones had in the second quarter of the previous year, marking a nearly 20 percent point jump in the space of a year.

Chinese companies are also aggressively competing in terms of specifications. Huawei, for instance, launched the Mate X3 in April and followed up with the Mate X5 in September. The Mate X5 boasts a slim profile, measuring only 11.1mm; this is thinner than Samsung’s Galaxy Z Fold5, which comes in at 13.4mm. Honor introduced the Magic V2 in September, a device that is lighter at 231g compared to the Galaxy Z Fold5’s 253g. Xiaomi’s Mix Fold 3, released in August, features a larger battery capacity of 4800mAh compared to the Galaxy Z Fold’s 4400mAh. Oppo also joined the foldable phone market with the Find N3 and Find N3 Flip, offering competitive pricing. Lenovo’s smartphone brand, Motorola, released the Moto Razr 40 priced at 3,999 yuan, targeting the affordable foldable phone segment.

According to DSCC, Samsung Electronics’ market share in the foldable phone market is expected to decrease from 79 percent last year to 59 percent this year. In contrast, Chinese four manufacturers (Huawei, Honor, Oppo, and Motorola) are projected to increase their combined market share from 20 percent to 34 percent. The number of products flooding the market is also expected to double this year, with 37 different models, compared to 19 models in the previous year.

Due to the heightened competition, market watchers speculate that Samsung Electronics may release the Galaxy Z Fold FE (Fan Edition),’ targeting the affordable foldable phone market amid Samsung’s expansion of its Fan Edition series. The Korean company is set to introduce the Galaxy S23 FE, a new addition to the Galaxy S series Fan Edition, in South Korea next month. Discussions are currently underway with the country’s major mobile carriers regarding the release date.

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