Korean tech giant Samsung owned the largest slice of the foldable smartphone market in 2020, with a staggering market share of over 90%.

According to a DSCC report, foldable display panel shipments rose by 454% from the previous year to 3.1 million units during 2020.

This is expected to grow by another 394% in 2021 as more smartphone manufacturers jump on the foldable bandwagon, with shipments estimated to be valued at $462 million US dollars.

These figures are decidedly lower than initial projections due to the sanctions banning Huawei’s launch of the foldable Mate X2 in Q4 2020.

Due to the lack of any major rivals in the foldable sector, Samsung obliterated competition with several major launches including the Galaxy Z Fold 2 and the Galaxy Z Flip – two of the best-selling foldable devices in 2020.

According to the report, the Galaxy Z Fold 2 led the market with a 65% share, followed by the Z Flip with a 27% market share.

In the next year, Samsung is predicted to launch another three foldable handsets, including a new generation of the Z series phones.

Gizmochina also predicts Samsung will aggressively push its display technology to help other brands enter the foldable market.