Samsung Woos iPhone Users to Galaxy Z Fold8 as Apple Unveils Foldable iPhone

Product / TechIndustry
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Summary · why it matters

Samsung Electronics is stepping up efforts to lure iPhone users to its foldable smartphones, after Apple unveiled its first foldable iPhone on Wednesday, September 9, marking a major product launch under the leadership of new CEO John Ternus. A Samsung Electronics spokesperson said the share of iOS users worldwide switching to the Galaxy Z Fold8, launched in July, rose 1.6 times compared with its predecessors, the Galaxy Z Fold7 and Flip7. In the US market, about 30% of Galaxy Z Flip8 buyers switched from smartphones of other brands, and most were buying a foldable phone for the first time. Samsung has also improved its Smart Switch feature to make it easier for iPhone users to move their data to Galaxy devices, with wireless data transfer via QR code scanning without needing to install the Smart Switch app on the iPhone. Counterpoint Research said in July that Samsung is expected to hold about 32% of the global foldable smartphone market this year, while Apple is expected to hold 25% after entering the market, with Huawei remaining a key competitor, especially in China.

Impact on stocks 2

Artificial Intelligence▲ · 2 stocks
Samsung Electronics Co Ltd
005930
▲ PositiveDemandrelevance

Samsung says Galaxy Z Fold8 iOS switchers rose 1.6x and improved Smart Switch to lure iPhone users, boosting its foldable demand.

Apple Inc.
AAPL
± MixedCompetitionrelevance

Apple unveiled its first foldable iPhone, entering the foldable market where Samsung is aggressively courting iPhone switchers.

Off-coverage companies 1

Counterpoint ResearchPrivate± Mixed
relevance

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