The third quarter of 2023 saw a record-breaking surge in foldable smartphone sales, reaching 7 million units, according to the Display Supply Chain Consultants (DSCC). Samsung's Galaxy Z Fold5 and Z Flip5, along with increased competition from China, fueled this remarkable growth, marking a 215% increase from Q2 2023 and a 16% rise from Q3 2022.

Samsung maintained its dominance with a 72% market share, though it decreased from 86% the previous year. Huawei unexpectedly secured the second position with a 9% market share, closely followed by Honor at 8%. Samsung's Z Flip5 and Fold5 claimed the top spots with 45% and 24% market shares, respectively. Huawei's Mate X3 and Honor's Magic V2 each held a 6% share.

Looking ahead to Q4 2023, DSCC anticipates a 35% decline in foldable smartphone sales compared to Q3 but a 47% increase compared to Q4 2022. Samsung's market share is projected to drop to 42%, while Huawei is expected to surge to 21%, and Honor to follow closely at 19%. The top three models for the full year 2023 are predicted to be the Galaxy Z Flip5, Z Fold5, and Honor Magic V2. Overall, foldable sales for the entire year are estimated to rise by 23% compared to 2022, reaching 15.8 million units.