Samsung was one of the first manufacturers of foldable devices and the company that brought the form factor into the mainstream. China was initially one of the major markets for the company’s advanced devices. But as IDC’s latest report reveals, the company’s newest foldable devices face intense competition from Chinese OEMs.

Many Chinese OEMs started working on the form factor relatively late, giving Samsung the advantage of already accumulated experience. However, advanced devices from Huawei, Honor, Vivo and Oppo are now surpassing Samsung’s offerings in terms of market share. Of course, Chinese OEMs have managed to overcome many form factor issues and at the same time develop a pretty good software experience for their users; But is this enough to replace the South Korean company so quickly?

Just a few years ago, Samsung had a quarterly 30% share of the foldable phone market in China, home to most other foldable smartphone makers. However, in the first quarter of 2024, the company ranks fifth in the country in terms of market share of complex devices.

Huawei ranks first in its country with a 44.1% market share. Honor ranks second with 26.7% market share. In third and fourth place are Vivo and Oppo with market shares of 12.6% and 9%. Last year alone, Samsung’s market share was 11%.

It has been reported that this decline in market share is not only due to Chinese manufacturers catching up with Samsung in terms of product quality, but also due to changing consumer preferences. Amid US trade restrictions that prevent Huawei and other companies from accessing foreign technology, buyers in the country now appear to prefer products from Chinese manufacturers.