According to the most recent report from TrendForce, approximately 15.9 million foldable phones were shipped last year. This shows a 25% increase from the previous year and brought foldables to a combined 1.4% market share of all smartphone shipments. TrendForce attributes the slow adoption of foldables to their high prices and concerns about durability.
Global foldable smartphone market share 2023-2024 (TrendForce)
Samsung remained the top vendor in the foldable smartphone market, holding a 66% share. However, this is a decrease of over 17 percentage points from 2022. TrendForce predicts that Samsung’s share of the foldable market will drop to 60% in 2024.
Huawei held a distant second place with just under 12% market share, driven by strong demand for its foldables in the Chinese market. TrendForce predicts that Huawei may capture over 20% of the foldable market in 2024. Xiaomi was the third leading OEM in terms of foldable shipments, holding a 5.4% market share.
Looking forward, TrendForce estimates a 11% rise to 17.7 million foldable shipments in 2024. They also project that foldables will reach a 2% market share by 2025.
