Seoul: Samsung Electronics Co. solidified its top position in the global foldable smartphone market in the third quarter, industry data showed Saturday. Samsung accounted for 64 percent of all global shipments of foldable smartphones in the July-September period, marking an increase of 8 percentage points from a year ago.

According to Yonhap News Agency, Samsung further widened its gap with China's Huawei Technologies Co., whose market share remained unchanged from a year ago at 15 percent during the cited period. Motorola Mobility LLC. ranked third with a 7 percent market share, followed by China's Honor Device Co. at 4 percent, Vivo Mobile Communications Co. at 4 percent, and Xiaomi Corp. at 2 percent.

The report highlighted a 14 percent year-on-year increase in global shipments of foldable smartphones, reaching a record quarterly high. This surge was primarily driven by the popularity of Samsung's Galaxy Z Fold 7 series. Foldable smartphones made up 2.5 percent of all smartphone shipments in the third quarter this year.

The market tracker also projected rapid growth in the global foldable smartphone market next year, spurred by technical advancements and rising demand for premium devices. This growth is anticipated amid potential foldable smartphone releases from Apple Inc., which is reportedly working on a foldable phone expected to launch as early as 2026.