Samsung foldable screen falls from the altar? China only has 3% left!

【ITBEAR】According to news on August 15, Samsung, which once dominated the folding screen mobile phone market, now has a significant decline in its market share in China to 3%. Compared with the data in the first quarter of 2023, the decline is more than 15 percentage points. It is worth noting that despite Samsung's poor performance in the Chinese market, China's folding screen mobile phone market as a whole has maintained an astonishing growth rate, as high as 105%. This growth rate was mainly driven by Chinese brands, whose shipments climbed rapidly, in sharp contrast to Samsung's sharp decline in market share. According to ITBEAR, in the first quarter of 2024, Samsung's global shipments of foldable screen mobile phones dropped significantly by 42% year-on-year, and its market share decreased by 25 percentage points year-on-year, thus losing its long-term position as the number one global market share. At the same time, Huawei ranks first in the global folding screen mobile phone market with a shipment growth rate of 257% and a market share of 35%. The growth rates of Honor and Motorola are even more astonishing, reaching 460% and 1473% respectively. As a pioneer in the folding screen mobile phone market, Samsung launched the Galaxy Fold in 2019, which has led a new trend in the smartphone industry. However, with the strong rise of Chinese brands, Samsung's market leadership is facing unprecedented challenges. Data shows that as of the third quarter of 2021, Samsung’s share of the global folding screen mobile phone market is as high as 93%. However, by the first quarter of 2024, its global market share has plummeted to 23%, and the remaining 77% of the market is almost entirely occupied by Chinese brands. Chinese brands such as Huawei, Honor, vivo and OPPO have shown significant advantages in price, innovation and other aspects, and rely on the domestic mature supply chain system to enable innovative technologies for domestic folding screen mobile phones to be quickly realized and cost reduced.

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