Once a trailblazer in the foldable phone market, Samsung launched its products with a flourish, securing a significant early advantage. However, the landscape has dramatically shifted. Samsung now confronts intense competition in the foldable phone sector, particularly from Chinese Original Equipment Manufacturers (OEMs), the primary contenders in this niche.

Consequently, Samsung's market share for foldable smartphones has notably decreased, but not solely due to superior alternatives.

Recent IDC data paints a stark picture of Samsung's decline in China's foldable smartphone market. In Q1 2024, Samsung's market share stood at a mere 5.9 percent, a significant drop from its previous 30 percent market share per quarter. The company now ranks last, outperforming a few companies producing foldable phones. This represents a drop from the prior year when Samsung's share was 11 per cent.

Huawei leads with a 44.1 per cent market share, followed by Honor with 26.7 per cent, Vivo with 12.6 per cent, and Oppo with 9 per cent. Samsung's foldable phones initially had a technological lead, but Chinese manufacturers have caught up. Additionally, geopolitical dynamics have reduced Samsung's overall share in the Chinese phone market to zero, impacting its foldable segment.

A 'patriotic consumption' trend has emerged in China, with consumers increasingly favouring local brands. Therefore, many customers prefer Chinese-made foldable phones even if Samsung's foldables are superior. This trend may pose a significant challenge for Samsung to reverse, given its limited influence over consumer preferences. The company may encounter further difficulties in the Chinese market.