Global sales of foldable devices experience first decline in history

The hype surrounding foldable devices was palpable when they first hit the market. After all, it was a new technology that seemed to captivate users’ imaginations. But it seems that the initial excitement has started to wane.

The latest data indicates that sales of foldable devices have taken a hit in the third quarter of this year. Even Samsung, one of the leading players in the industry, has felt the impact.

For almost six consecutive quarters, the global market for foldable devices had been on an upward trajectory. However, during the third quarter of 2024, sales dropped by 1%. Counterpoint’s data reveals that Samsung still leads in global sales, but it is also one of the companies most affected by the recent decline.

Increased competition in the market is also a contributing factor to the decline. Samsung experienced a 21% drop in foldable device sales over the past year, partly due to intensified competition from rivals.

On the other hand, Xiaomi saw a staggering 185% increase in sales, followed by Motorola with 164%, Honor with 121%, and Huawei with 23%.

Jene Park, an analyst at Counterpoint, suggests that the foldable device market is going through a transitional phase, facing new challenges as it moves from a niche segment to a more mainstream one. One of the main barriers for consumers continues to be the higher price tag associated with these devices, making them unaffordable for many.

It’s clear that the initial excitement surrounding foldable devices has given way to a more nuanced understanding of their limitations and benefits. While the technology holds promise, it still has a long way to go before it becomes a staple in the average consumer’s tech arsenal.

As a tech journalist, I can’t help but wonder: what will it take for foldable devices to truly take off? Is it a matter of refining the technology, making it more affordable, or perhaps finding new use cases that truly showcase their potential? Only time will tell. But for now, it seems that foldable devices are still a niche within a niche, captivating a select group of tech enthusiasts while leaving the majority of consumers on the sidelines.

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About Samsung:

Samsung, a South Korean multinational conglomerate, has established itself as a global leader in various industries, including electronics, technology, and more. Founded in 1938, Samsung's influence spans from smartphones and consumer electronics to semiconductors and home appliances. With a commitment to innovation, Samsung has contributed products like the Galaxy series of smartphones, QLED TVs, and SSDs that have revolutionized the way we live and work.