Record number of iPhone users switch to Samsung foldables as Apple enters market

Samsung reported a record rate of iPhone users migrating to its foldable devices.

The rate of iOS users switching to the Galaxy Z Fold8 series was 1.6 times the rate for last year's Fold7 and Flip7. Apple unveiled its foldable iPhone Duo the same week, with John Ternus at the helm as CEO. This creates a direct competition for the same iPhone customer base.

Samsung's Appeal Among iPhone Users

According to Samsung, 30% of Galaxy Z Flip8 purchasers in the US came from other brands. The majority were first-time foldable buyers. The company's enhanced Smart Switch feature allows data transfer from an iPhone using a QR code scan without requiring an app download.

Samsung launched its first Galaxy Fold in September 2019, exactly seven years prior to the launch of the iPhone Duo. The company continues to rely on that early advantage.

Apple Responds With the iPhone Duo

According to Apple, the iPhone Duo is priced at $1,999 for the 256GB model and goes up to $3,199 for the 2TB version. The device features a 7.6-inch internal display alongside a 5.4-inch external screen, housed in a titanium frame, making it Apple's biggest iPhone display to date. Preorders begin October 16, and sales start October 23 in the US and over 70 other nations.

This product launch is the first major one for Ternus since he succeeded Tim Cook as Apple CEO on September 1.

Counterpoint Research forecasts Samsung will dominate the foldable market in 2026 with a 32% market share. Apple is projected to capture 25%. The research firm also noted that Huawei maintains a strong position in China.

Following the keynote, AAPL ended the day at $315.34, a decline of 0.28%. Bank of America analyst Wamsi Mohan observed that Apple's stock has decreased the day after 10 out of its last 24 product launches. This sell-the-news trend has historically reversed within 30 to 60 days. Evercore ISI maintained its Outperform rating and a $365 price objective, suggesting a moderate potential gain from current prices.

The figures from Samsung indicate it continues to attract iPhone loyalists. It may take an entire holiday quarter to determine if the Duo can reverse that pattern.