Samsung Electronics Co. took the No. 1 position in the global foldable smartphone market this year with the launch of new devices, a report showed Tuesday, as it tries to further solidify its status in the burgeoning sector.

Samsung is estimated to take up an 88 percent share in this year's foldable smartphone market in terms of shipments, according to the latest report from industry tracker Display Supply Chain Consultants (DSCC).

Samsung unveiled the vertically folding Galaxy Z Flip in February and launched the Galaxy Z Fold 2 in September.

"By model, the Samsung Galaxy Z Flip and the Z Fold 2 are expected to be the two best-selling foldables in 2020 on both a unit and revenue basis," DSCC said.

Its display-making affiliate, Samsung Display Co., accounted for 96 percent of the foldable panels shipped in the third quarter of 2020 and is estimated to take an 87 percent share for the whole 2020, DSCC added.

"Samsung Electronics is increasing its emphasis on foldables and de-emphasizing its Note series which will make its foldable Z Series their second flagship series," DSCC said.

"Samsung Display is expected to become more aggressive in helping other brands enter the foldable market by selling them panels for the first time in 2021 including making ultra-thin glass (UTG) cover solutions available."

DSCC said that global foldable panel shipments are expected to surge 454 percent on-year to 3.1 million units this year, with total revenue reaching $462 million.

By form factor, DSCC predicted that clamshell design devices are to take a nearly 60 percent share.

It also predicted that UTG, currently used for display cover windows for the Galaxy Z Flip and the Galaxy Z Fold 2, are to lead the market with an 84 percent share for this year in terms of panel procurement basis.

DSCC said the global foldable display market, covering all applications, is expected to grow to 94 million units in 2025, with foldable smartphone panels reaching 59 million units. (Yonhap)