Samsung has been dominating the foldable smartphone segment since it launched its first device, the Galaxy Fold, in 2019. The company has continued to innovate and improve its foldable technology and offer new models with different designs and features, such as the Galaxy Z Flip and the Galaxy Z Fold series.
According to Canalys, which was cited by Financial Times in its report, Samsung shipped just under 12 million foldable devices globally in 2022, accounting for about 80 percent of the total 14.2 million foldable shipments worldwide. This means Samsung sold more foldable devices than all other brands combined. To put it into context, Huawei trailed at second with around 2 million foldables.
Samsung’s latest models, the Galaxy Z Flip 4 and the Galaxy Z Fold 4, launched in August 2022 and received rave reviews from critics and consumers alike. The devices were a step above their predecessors, offering improved durability, performance, design, and features at lower prices. Samsung said that it sold more than 2 million units within a month of its launch, which is more than what it sold for its previous models in a similar period.
Samsung has led the foldable market with its innovative technology, aggressive marketing, and distribution. It has improved its foldable in each iteration and marketed them as premium devices for various purposes. It has also reached more customers with different deals, rewards, and services.
While Samsung faces some competition from other brands that have entered or plan to enter the foldable market, such as Huawei, OPPO, vivo, Honor, Xiaomi, and Motorola, it still enjoys a significant lead over them in terms of sales volume, market share, and brand recognition. Samsung aims to maintain its dominance by launching new models with enhanced features and lower prices this year.
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As more consumers adopt foldables as their primary devices, Samsung expects that they will become mainstream products in the near future. Canalys estimates a possible 100 percent increase in sales for 2023.