Source: Fortune
Summary
Samsung reported a 30% year-over-year increase in foldable smartphone sales, with its latest Z Fold 8 and Z Flip 8 models performing well. The company’s senior executive, Dave Das, said the foldable market is growing rapidly and is now a mainstream part of its business. Samsung’s foldables, starting at $1,200, are seen as premium products, though Apple is expected to enter the market with a similar device. Das noted that foldables are attracting new customers, including some from Apple, and that the category is growing faster than traditional smartphones.
Our Reading
The numbers tell one story.
Samsung’s foldables are up 30% in sales, with a new model hitting 40% of total foldable sales.
Apple is preparing to enter the foldable market, with a device expected to cost at least $2,100.
Samsung claims its experience gives it an edge over Apple, which is still learning.
Consumers are buying foldables for productivity, content, and capture—each with different needs.
Author: Evan Null
The ‘passport’ fight
Samsung was the first to launch a foldable phone in 2019, but faced early technical issues. Since then, it has improved significantly, with the latest models receiving positive reviews for durability and design. The company now sells foldables that are seen as more advanced than traditional smartphones, with clear improvements in size and weight. Samsung’s latest foldable, similar in size to a passport, has already captured 40% of its foldable sales, showing strong consumer interest.
Samsung’s foldable strategy
Samsung’s foldable phones are now a significant part of its business, with the category growing much faster than traditional smartphones. The company has a 40% global market share in foldables, followed by Huawei. Samsung’s strategy includes targeting different user segments, such as productivity, content consumption, and content capture. The new passport-style foldable is designed for content consumption, while the high-end model is aimed at productivity users.
Apple’s upcoming move
Apple is preparing to enter the foldable market with a device similar in size to a passport. The company is expected to launch its foldable iPhone, reportedly called the “iPhone Ultra,” with a price tag of at least $2,100. Apple’s entry into the foldable space comes as it faces challenges in its traditional iPhone business, which has seen slower growth in recent years. The company’s new CEO, John Ternus, is overseeing the launch, which is seen as a major shift in its product strategy.
Competition and consumer demand
Samsung’s foldables are attracting new customers, including some who previously used Apple devices. Das said that foldables help ease concerns about switching operating systems, making it easier for Apple users to try Android. The company also reported that 25% more new customers are switching from competitors when buying foldables compared to traditional phones. This suggests that foldables are not just a niche product but are gaining broader appeal.
Future of the foldable market
The foldable market is still small, representing less than 2% of global smartphone sales, but it is expected to grow as more companies enter the space. Samsung’s experience in the foldable market gives it a head start, but Apple’s entry could change the landscape. The success of foldables will depend on continued innovation, consumer adoption, and the ability to meet diverse user needs. Samsung is confident that its experience and product quality will give it an advantage over Apple in this emerging category.
