Foldable Smartphone Panel Shipments Surge in 2024 Q1

TapTechNews June 13th, market research institutes Counterpoint Research and DSCC released reports today. The data shows that the shipment volume of foldable smartphone panels increased by 46% year-on-year to 3.94 million units in the first quarter of 2024.

Specifically, in the first quarter of this year, Huawei led panel procurement with its highest-ever level of 55% share and topped the list for the second consecutive quarter; BOE continued to lead in the shipment volume of foldable panels with a 48% share (higher than 43% in the previous quarter). Among them, Huawei Mate X5 and Pocket 2 are the top two models ranked by the amount of foldable panel procurement.

The agency expects the shipment volume of foldable smartphone panels to increase by 113% year-on-year in the second quarter of 2024 and reach a record 9.25 million units. The main reasons include the following aspects:

Samsung will procure/produce the panels of its latest ZFlip and ZFold series models one month earlier than last year (TapTechNews note: this year is April);

Huawei's panel procurement continues to increase with new models and strong demand in China.

Entering the second quarter, Samsung Galaxy ZFlip6 and ZFold6 are expected to be the top two models ranked by the amount of foldable panel procurement. Samsung will also lead Huawei with a 52% to 27% advantage in panel procurement. It is expected that Samsung and Samsung Display will still maintain a large advantage in 2024, but this advantage will be somewhat reduced compared to 2023.