Samsung Electronics saw its shares decline on Thursday as Apple officially entered the foldable smartphone arena with the $1,999 iPhone Duo, a move that could challenge the South Korean tech giant's seven-year head start in the category.
The stock slipped 1.5% to 265,500 won, while the broader KOSPI index also faced pressure amid rising Brent crude prices above $100 and ongoing Middle East tensions that weighed on Asian markets.
Apple's delayed entry
Samsung launched the original Galaxy Fold in 2019 and has since invested heavily in improving durability, hinge mechanics, crease reduction, battery life, and overall form factor. That experience appears to be paying off: Samsung executive Dave Das told Fortune that sales of its latest foldables are up about 30% year-over-year by volume. The passport-style Galaxy Z Fold 8 accounts for roughly 40% of foldable sales, while the higher-end Fold Ultra 8 represents another 40%.
Apple, however, avoided the early years of experimentation and iteration. Forrester analyst Dipanjan Chatterjee told India Today that Apple's entry follows its classic playbook: wait for a product to mature, then enter once the market shows viability and reshape the category. That strategy could prove uncomfortable for Samsung, as its seven years of refinement may have solved many of the issues that once deterred Apple.
Market share projections
Foldables currently represent only about 2% of global smartphone shipments, meaning Apple doesn't need massive volumes to shift the competitive landscape quickly. IDC projects Apple will sell roughly 10 million Duo units in its first 12 months, generating about $27 billion in revenue—an estimated 44% share of the segment's value. The research firm forecasts Apple will capture nearly one-third of the foldable market in 2026 and 40% in 2027.
IDC research associate Kiranjeet Kaur told Malay Mail that Apple's foldable is "very likely to shift the competitive dynamics" in China and globally. With hundreds of millions of existing iPhone users who previously had to leave iOS to get a foldable, Apple has a ready-made customer base.
Potential upside for Samsung
Apple's arrival isn't automatically bearish for Samsung. The iPhone Duo could validate foldables for a broader audience, encourage developers to optimize apps for larger folding displays, and turn a niche form factor into a mainstream premium category. CCS Insight analyst Ben Wood noted that Apple should bring "fresh attention" to foldables and increase acceptance of the designs despite high prices and evolving use cases.
Samsung also retains key advantages: it offers multiple foldable designs and price points, while Apple's Duo starts at $1,999. Samsung has years of consumer data and a mature supply chain behind its devices. The company's foldable business could keep expanding even as Apple captures more of the category's most profitable customers and sets the pricing benchmark.
The first meaningful test comes when iPhone Duo pre-orders open on October 16, followed by sales on October 23. Investors will be watching closely to see how the market responds and whether Samsung can defend its lead.
This article is for informational purposes only and does not constitute financial advice.
