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Yesterday, Samsung launched the Galaxy Z Fold 6 and Galaxy Z Flip 6 as its latest foldable phones. While they are solid products, they don’t change much from previous models. During the event, the president of Samsung Electronics revealed an estimate of how many Galaxy Z Fold 6 and Flip 6 they expect to sell. His response reflected expectations of growth, although somewhat discreet.
Regarding the potential sales of Samsung’s new generation of foldables, Roh Tae-Moon said that “it is difficult to estimate the exact sales figure.” However, the executive revealed that the company hopes “to sell 10 percent more of new products compared to the previous model released last year.” So, while Samsung expects to sell more Galaxy Z Fold 6 and Z Flip 6 units, its analysis does not project excessive figures.
Samsung’s foldables have lost a lot of market share
Roh’s response is in line with the latest foldable phone market analysis. In May, a report from Counterpoint Research revealed that Samsung is losing market share in the segment at a rapid pace. More specifically, the South Korean giant went from having a share of 58% in the first quarter of 2023 to 23% in the first quarter of 2024. This is due to multiple reasons, among which is the growing competition in the segment.
The current foldable phone market offers more and more options in multiple price segments. This has probably caused fans of this type of device to try other brands. Additionally, Samsung has been conservative about improvements to its foldable devices. Lately, each new device generation includes minimal improvements. Meanwhile, products from other brands (especially Chinese brands) strive to include innovative and exclusive features.
Other brands have grown significantly
During the same period analyzed (Q1 2023–Q1 2024), brands such as Huawei, Honor, and Motorola experienced notable growth in foldable phone market share. They went from 14% to 35%, 3% to 12%, and 1% to 11%, respectively. That said, Samsung is not preoccupied by the situation. Roh said the growth of other brands “is positive for consumers as they benefit from a more competitive market.”
Perhaps it is time for Samsung to bet on innovation in future launches to reverse the trend. Their latest foldable devices have even reused some components for years. For instance, the Galaxy Z Fold 6 uses the same camera sensors as the Z Fold 5 and 4. However, the company has improved the quality by tweaking the image processing software. They have also been stuck in terms of fast charging, like the Galaxy S devices.
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