The recent introduction of the Galaxy Z Fold Special Edition has not been enough to lift Samsung out of its slump in the foldable phone market. Recent findings from
Counterpoint Research reveal that Samsung has been overtaken in foldable phone sales in Europe, the second-largest market for these devices.In fact, Honor is currently leading the charge in this region, just before unveiling what it claims to be the world’s thinnest foldable phone at a dedicated showing during the IFA 2024 expo. This new device will not only be sleeker than the special Z Fold edition but will also outshine it in terms of specifications and pricing.
With the anticipated arrival of the Magic V3, Samsung’s challenges in Europe could intensify. The company has already fallen behind in China, where Huawei and various domestic brands like Oppo, Xiaomi, and Vivo dominate the foldable segment.
HONOR’s aggressive expansion strategies in the European and Asia Pacific markets resulted in a staggering 455% year-over-year increase in its global foldable shipments in the second quarter of 2024, marking the highest growth rate among all brands. The company specifically targeted international markets with its ultra-slim Magic V2, which measures under 10mm in thickness when closed. Notably, the HONOR Magic V2 was the top-selling book-type foldable outside of China, where Huawei remains king.
Counterpoint, August ’24
The Magic V3 stands impressively at just 9.2mm when folded and weighs a mere 226g (approximately 8 ounces). In comparison, the Galaxy Z Fold 6 is 30% bulkier, measuring 12.1mm (0.22 inches) thick when closed, despite efforts by Samsung to streamline its design compared to earlier versions. The Z Fold Special Edition will come in at 10.5mm thick when closed, making it significantly thicker than the V3.
As the competition in the foldable phone market heats up, Samsung is reportedly seeking to differentiate the Galaxy Z Fold Special Edition by enhancing its toughness and durability beyond what is offered by Chinese rivals. This includes features such as water resistance and improved ingress protection, though these upgrades have contributed to an increase in thickness compared to other Chinese models, especially the remarkably thin and lightweight Honor Magic V3.Nonetheless, Samsung believes that this additional durability might resonate with consumers. According to reports from The Elec, the company plans to launch a limited run of Galaxy Z Fold Special Edition phones next month to gauge market reaction. However, it is expected to carry a higher price tag than the Z Fold 6, leaving the outcome of Samsung’s competition against Chinese brands uncertain.
