With an estimated 1.6% penetration rate for this year (according to TrendForce), foldable smartphones have a long way to go to reach the 85%-90% rate that the smartphone industry has in general. The foldable market has just come off a record third quarter performance that saw shipments soar 215% from the second quarter number and 16% year-over-year to hit 7 million units. Led by the release of both the Galaxy Z Fold 5 and Galaxy Z Flip 5, Samsung dominated the market during the quarter as usual.
