According to the latest market report released by TechInsights, the global folding screen smartphone market has seen significant growth in Q3 2023. Shipments increased by 10% year-over-year compared to the same period last year, demonstrating continued consumer enthusiasm for this new form of smartphone. In the folding screen market in this quarter, Samsung, Huawei, and Motorola became the three largest manufacturers in the world by shipment, while the Asia-Pacific region became the region with the fastest growth in shipments.
In terms of market share, Samsung still maintains a leading position in the global folding screen smartphone market, but shipments fell by 3 year-on-year6%。Despite this, Samsung's folding screen product line is still very rich, and its Galaxy Z Flip and Galaxy Z Fold series are popular with consumers in the market.
Huawei, as a leading technology company in China, also had a good performance in this quarter with its foldable screen smartphones. Shipments increased by 12% year-over-year, ranking second. Huawei's Mate X series is highly regarded in the market, attracting a large number of consumers for its unique design and excellent performance.
Motorola's shipments in the quarter increased by an impressive 1,377% year-over-year. Motorola's folding screen mobile phone product line is not much, but with its unique vertical folding design and cost-effective advantages, it has won the love of many consumers.
Honor and Vivo also had good performances in this quarter. Honor's shipments increased by 314% year-on-year, ranking fourth. Honor's Magic V series has won the recognition of consumers with its excellent performance and unique design. Vivo's shipments increased by 92% year-on-year, ranking fifth. Vivo's X Fold series has a good sales volume and reputation in the market.
OPPO and Xiaomi also saw an increase in shipments during the quarter. OPPO ranked sixth, with shipments up 51% year-on-year. OPPO's Find N series has been well received in the market, attracting a large number of consumers for its innovative design and excellent performance. Xiaomi ranked seventh, with shipments down 37% year-on-year. Despite this, Xiaomi's MIX Fold series still has a certain competitiveness in the market.
In the end, Google ranked eighth. Although Google's shipments are not large, its Pixel series also has a certain market share in the folding screen field.
While the overall market is growing, the market share growth of horizontal folding screen mobile phones is the strongest. This form of foldable screen mobile phone can better meet the needs of consumers for large screens and portability, so it has been warmly welcomed in the market. However, vertical folding screen phones still occupy the largest market share, and their portability and innovative design are also loved by consumers.
The Asia-Pacific region became a major growth engine for foldable smartphone shipments during the quarter. Among them, the performance of the Chinese market is particularly prominent. Chinese consumers have a high acceptance of new technologies and new things, and also have a large middle class, so they have become the main consumer force in the folding screen mobile phone market.
Overall, the global folding screen smartphone market in Q3 2023 will show a steady growth trend. Major manufacturers are actively laying out and seizing the market, and have launched a series of innovative and competitive products. With the continuous advancement of technology and the continuous change of consumer needs, the future development prospects of the folding screen smartphone market are still full of infinite possibilities.