Samsung dominates foldable market amid growing competition

Samsung dominated the foldable panel market in the second quarter. The early launch of its new foldable phones pushed Samsung’s tally in the market share. Analysts report that Q2’24 to be the peak quarter of this year’s panel shipments.

According to DisplaySupplyChain, foldable panel shipments reached a new high in Q2’24 rising 151% Q/Q and 126% Y/Y to 9.8M panels. The outlet is crediting Samsung’s new foldable phones that were launched earlier than usual.

The South Korean display manufacturer dominated Q2’24 foldable panel procurement in Q2’24 with a 48% share followed by Huawei at 29%, reversing positions vs Q1’24 when Huawei held a 53% to 21% advantage.

Samsung accounted for the top two models in Q2’24 on panel procurement basis followed by two models from Huawei and one model from Honor. However, Q3’24 foldable panel shipments are expected to fall 30% Q/Q and 21% Y/Y to 6.9M.

The company regained the number 1 position in foldable panel market with a 53% to 27% advantage over BOE in Q2’24 after trailing BOE in Q1’24 at 29% to 48%. In the third quarter, Samsung could gain share in Q3’24 to 49% with Huawei slipping to 16%.

Samsung’s share is expected to rise slightly to 49% with Huawei’s share falling to 16%. The Galaxy Z Flip 6 is expected to remain the #1 model on a panel procurement basis with a 32% share followed by the Z Fold 6 at 13%.