Samsung is spearheading the foldable game with its latest Galaxy Z Fold devices, selling four times more models in the category in 2021 than it did in the year prior.
Beating the 9 million unit sales expectations set by Counterpoint Research, Samsung sold more models of its Galaxy Z Fold 3 and Galaxy Z Flip 3 foldables combined in their first month of availability, than it did of all its foldables throughout the entirety of 2020.
The manufacturer accounts its price reduction, design updates, S-Pen adoption, water resistance, and research and development for better continuity of apps on the foldable screens, among reasons why many users found interest in the Galaxy Z Fold 3 and Galaxy Z Flip 3.
When compared to its own popular devices, such as the Galaxy Note 20, Samsung saw a 150 percent increase of new customers who switched to the Galaxy Z Flip 3 from a different brand. Meanwhile, the brand saw a 140 percent increase of new customers who switched to the Galaxy Z Flip 3 from a different brand.
Samsung already accounts for a major share of the foldable market, but it jumped from 85 percent to 93 percent between 2020 and 2021. Moving forward, the manufacturer might face increased competition, with the Oppo Find N having recently released to market.
Apple isn’t expected to release its foldable until 2023. TCL notably had stated it won’t release a foldable until it can do so under a $1,000 price point. Other brands rumored to be working on foldables include Vivo, Huawei, Xiaomi, and OnePlus, but details remain minimal.
Having had a solid head start to develop and market its display technology and several generations of productions, Samsung is in a better opportunity to maintain a high market share overall.
