The rise of foldable smartphones has transformed the mobile market, with Samsung leading the pack as the “500-pound gorilla” of the industry. The success of Samsung’s Galaxy Flip, a compact and portable foldable phone, surprised the company itself. Despite heavily promoting the Galaxy Fold, the Flip captured an impressive 70% of Samsung’s foldable sales in 2021. Its lower price point and improved portability helped Samsung ship 10 million foldable devices that year.
However, Samsung’s dominance in the foldable market has faced challenges from increased competition. The market has become more diverse, and Samsung has had to rethink some of its strategies. One recent change is widening the narrow front-facing screen of the Fold, which was a response to feedback about the awkward aspect ratio. The introduction of competitors like Google’s Pixel Fold and OnePlus Open has also pushed Samsung to innovate further.
Interestingly, one of the most unexpected competitors in the foldable market is Motorola. Initially, the Motorola Razr was dismissed as a novelty product when it was announced shortly after Samsung’s first Fold. The 2020 Razr faced criticism for its underwhelming specifications and flawed folding mechanism. However, foldable smartphones have proven to have staying power, with the global foldables market growing by 49% in the first quarter of 2024. Huawei, despite facing challenges due to international issues, experienced significant growth in the Chinese market. Motorola also saw staggering growth globally, jumping by 1,473%.
For Samsung, the challenge now lies in keeping the foldable category exciting. Educating consumers about the benefits of foldable phones is no longer enough. The company needs to convince non-foldable owners to make the switch and encourage existing customers to upgrade. However, the high price tags of the Fold and Flip models, starting at $1,900 and $1,100 respectively, make this a difficult task. Motorola’s Razr+, on the other hand, offers a great folding experience at a more affordable price point. The handset is frequently discounted and can be purchased for as low as $600 on Amazon.
In response to the growing competition and the need for affordability, Samsung has been rumored to be working on a more affordable version of the Fold. The next real innovation in foldable smartphones will likely be centered around affordability, as consumers seek more accessible options in this evolving market.