Samsung Electronics took the number one position in the global foldable smartphone market this year with the launch of new devices, a report said on Tuesday, as the company tries to further solidify its status in the burgeoning sector.
According to the latest report from industry tracker Display Supply Chain Consultants (DSCC), Samsung is estimated to take up an 88 percent share in this year's foldable smartphone market in terms of shipments, reports Yonhap news agency.
Samsung unveiled the vertically folding Galaxy Z Flip in February and launched the Galaxy Z Fold 2 in September.
"By model, the Samsung Galaxy Z Flip and the Z Fold 2 are expected to be the two best-selling foldables in 2020 on both a unit and revenue basis," DSCC said.
Its display-making affiliate, Samsung Display Co., accounted for 96 percent of the foldable panels shipped in the third quarter of 2020 and is estimated to take an 87 per cent share for the whole 2020, DSCC added.
"Samsung Electronics is increasing its emphasis on foldables and de-emphasising its Note series which will make its foldable Z Series their second flagship series," DSCC said.
"Samsung Display is expected to become more aggressive in helping other brands enter the foldable market by selling them panels for the first time in 2021 including making ultra-thin glass (UTG) cover solutions available."
DSCC said that global foldable panel shipments are expected to surge 454 per cent on-year to 3.1 million units this year, with total revenue reaching $462 million.
By form factor, DSCC predicted that clamshell design devices are to take a nearly 60 per cent share.
It also predicted that UTG, currently used for display cover windows for the Galaxy Z Flip and the Galaxy Z Fold 2, are to lead the market with an 84 per cent share for this year in terms of panel procurement basis.
DSCC said the global foldable display market, covering all applications, is expected to grow to 94 million units in 2025, with foldable smartphone panels reaching 59 million units.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)