Samsung Leads Global Foldable Smartphone Market in Q3 2023, Shipping 2.85 Million Z Fold8 Units

Samsung has held on to the top spot in the global foldable smartphone market in the third quarter of 2023, according to Smart Analytics Global (SAG) and its Smartphone 360 research service. The overall foldable market slipped 2% year over year, with 7.5 million units shipped between July and September but Samsung still captured 69% of it. That’s its best share since 2023.

Key Highlights

• Samsung took 69% of the global foldable market in Q3 2023
• It shipped 2.85 million Galaxy Z Fold8 units in the 55 days after the August 7 launch
• Huawei gave up 4 percentage points but stayed in second place
• Lenovo, through Motorola, picked up 2 percentage points by rolling out the Razr 70 series to more regions
• SAG expects the foldable market to grow 55% in 2027, with Apple reaching a 40% share

Market Share and Brand Performance

Brand rankings

• Huawei remains the second-biggest foldable brand, though it lost 4 percentage points this quarter
• Lenovo’s Motorola brand moved the other way, gaining 2 points as the Razr 70 series reached new markets
• Smaller brands saw their shares drop sharply

Samsung’s Galaxy Z Fold8 driving the quarter

• Shipped around 2.85 million units between the August 7 launch and the quarter’s end on September 30
• That works out to more than 50,000 units a day
• The Z Fold8 made up 55% of Samsung’s foldable shipments for the quarter
• In other words, more than half of everything Samsung sold in the category was this one device

Market Trends and Future Outlook

These results don’t reflect the iPhone Duo, which hadn’t started shipping yet. SAG has also lowered its full-year 2026 forecast because demand for foldables in China has come in weaker than expected. That could be a problem for Apple, since China is one of its largest markets. It’s also a big reason Huawei lost ground, as China is its home turf, and its global footprint is now smaller than it used to be.

SAG says wide foldables like the Galaxy Z Fold8 have reshaped the market and now account for a large chunk of shipments. Looking ahead, it projects 55% year-over-year growth for foldables in 2027, with Apple capturing 40% of the market once its production line is running at full capacity. Wide foldables, including the Z Fold8 and similar models, are expected to make up two-thirds of the market next year.

One thing to check before you publish: the dates don’t line up. The article says Q3 2023 and “highest since 2023,” but it also mentions the 2026 forecast and 2027 growth. I kept your dates as written, but the quarter is probably Q3 2026.