What was the hot smartphone category in 2023? according to new research foldables, is the category delivering the biggest growth with the likes of Samsung and Motorola benefiting from a record surge in demand.
According to research group Display Supply Chain Consultants, foldable smartphones have had a record breaking Q3 2023 quarter, when it comes to overall sales, fuelled by Samsung’s launch of the Galaxy Z Fold5 and Z Flip5 and earlier the Motorola Razr.
Sales of foldables jumped 215% compared to Q2 2023 and 16% compared to Q3 2022 to 7 million units.
This surge in demand eclipsed the previous peak of 6.1 million which was reached in the same quarter 2022.
Samsung’s market share was a dominating 72%, but this was down from 86% last year as brands such as Motorola and Chinese brands gain share in this market and new competitors emerge.
Samsung had the two bestselling models – the Z Flip5 had 45% of the market while the Fold5 captured a 24% share.
There were no sales numbers for Motorola who are struggling to break into the top end of the premium smartphone market despite capturing share in the affordable premium market.
In Q4, between October to December, DSCC expects foldable smartphone sales to fall 35% compared to Q3, while rising 47% compared to Q4 2022.
This is due to lower-than-expected shipments for Samsung this quarter, along with some delays in new product launches.
Samsung’s brand share is expected to fall to 42%, which would be well below last year’s 83%.
In China, the brand grabbing share is Huawei whose sales have surged to 21% of the market, followed closely by Honor at 19%.
Recently Honor tried to set up an office in Australia but after consultation with retailers and carriers decided to not go ahead with a local operation.
For the full year 2023, foldable sales are expected to rise 23% compared to 2022 to 15.8 million units.