IDC Korea, an IT market analysis firm, said on the 5th that domestic smartphone shipments in the third quarter rose about 19.7% from a year earlier to about 3.74 million units.
IDC Korea said double-digit growth was driven by the launch of flagship smartphones such as the iPhone 17 series and Galaxy Z Flip and Fold 7 series, and the repeal of the Mobile Device Distribution Improvement Act, as domestic and global economic conditions stabilized and the consumer sentiment index topped 110. Shipments in the domestic foldable market came to 1.16 million units, recording a double-digit growth rate from a year earlier.
IDC Korea also viewed that the midrange and budget market continues efforts to meet value-for-money demand through active market competition, including the launch of new products across a range of price points and the expansion of sales channels.
Along with the launch of new flagship smartphones, the release of new 5G midrange and budget smartphones across a variety of price points pushed 5G share to a record high of 97.4%.
Kang Ji-hae, a researcher in charge of mobile phone market research at Korea IDC, said, "Major manufacturers are expected to continue efforts next year to drive market demand centered on flagship lineups," adding, "With profitability emerging as the top priority due to a sustained strong dollar-won rate and rising memory prices, flexible market strategies such as adjusting new product launch schedules are expected." Kang added, "As competition intensifies across various form factors such as foldables and slim models, strategic responses to strengthen market competitiveness will begin in earnest."