Growing foldable smartphone market is a good signal for Samsung’s new Galaxy Z Flip 5 and Fold 5

Counterpoint Research today revealed that the global foldable smartphone market increased 10% YoY in Q2 2023 to reach 2.1 million units. Analysts say that the global foldable market will undergo significant changes in H2 2023, which is a good signal for Samsung’s new Galaxy Z Flip 5 and Fold 5.

Samsung launched the Galaxy Z Flip 5 and Galaxy Z Fold 5 in July 2023, which will capture a substantial market share in the second half. OnePlus Open is also coming this October, which would eat some share of the already available vendors.

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During Q2 2023, the Chinese foldable smartphone market achieved notable success, surging 64% YoY to reach 1.2 million units. The country now commands the largest share of the global foldable smartphone market, with a 58.6% share.

Part of Counterpoint Research analyst statement:

“Although Samsung’s market share may dip due to increased competition, we believe that it will be a natural result. We believe that the era of the mass foldable phone is expected to start in 2024, mainly led by Samsung and Huawei with their entry-level foldables.”