[Alpha Biz= Reporter Kim Jisun] In the third quarter of this year, domestic smartphone shipments in South Korea saw a 10.7% decline compared to the same period last year, according to market research firm IDC Korea. This drop is attributed primarily to the decreased sales of Samsung Electronics' Galaxy foldable phones, which were released in July.
IDC Korea reported that approximately 3.12 million smartphones were shipped in the third quarter of 2024, down from 3.49 million units in the same period of 2023. In fact, last year’s shipments had already represented a 5.4% decline compared to 2022.
Among the shipments, Samsung's Galaxy Z Flip and Z Fold 6 foldable phones accounted for 940,000 units, a significant drop from around 1.51 million units shipped in the third quarter of 2023. This represents a decrease of nearly 600,000 units. The decline is attributed to concerns over the durability of foldable phones, which has reduced their market appeal, as well as delays in the release of new AI features. Additionally, the application of AI features to older models has also diminished demand for new devices.
Another contributing factor to the decline is the consistent increase in smartphone prices, which has created additional financial pressure on consumers. With rising prices across the market, the affordability of new smartphones has become a key challenge for potential buyers.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
