Huawei has dethroned Samsung as the global leader in the foldable smartphone market for the first quarter of 2024, according to a market research firm Tech Insights report.
Huawei's market presence skyrocketed by 257% compared to last year's period, outpacing Samsung and Honor .Huawei's success can be attributed to its dominance in the vertically folding device segment.
Despite a 25% year-on-year decrease in market share, Samsung managed to maintain its leadership in the clamshell-style flip phone market, where phones fold horizontally.The Chinese foldable phone market witnessed a 94% year-on-year growth, driven by consumers' preference for fold-style phones over flip-style ones.
Conversely, Samsung (-25%) and Oppo (-75%) saw a decline in market share.Samsung, the pioneer of foldable phones, introduced the world's first foldable device in 2019.
Although the company once held a 60-70% market share, it now faces intense competition from Chinese manufacturers emulating Samsung's products.
Huawei has dethroned Samsung as the global leader in the foldable smartphone market for the first quarter of 2024, according to a market research firm Tech Insights report. Huawei's market presence skyrocketed by 257% compared to last year's period, outpacing Samsung and Honor .Huawei's success can be attributed to its dominance in the vertically folding device segment. Despite a 25% year-on-year decrease in market share, Samsung managed to maintain its leadership in the clamshell-style flip phone market, where phones fold horizontally.The Chinese foldable phone market witnessed a 94% year-on-year growth, driven by consumers' preference for fold-style phones over flip-style ones. The North American market also experienced significant growth, with a 143% increase compared to last year's period, although flip-style products remained dominant in the region. Motorola overtook Samsung to claim the top spot in North America, followed by Samsung and OnePlus.Other companies that showed impressive annual growth rates include Lenovo 's Motorola (+1260%), Honor (+480%), Vivo (+331%), and Xiaomi (+41%). Conversely, Samsung (-25%) and Oppo (-75%) saw a decline in market share.Samsung, the pioneer of foldable phones, introduced the world's first foldable device in 2019. Although the company once held a 60-70% market share, it now faces intense competition from Chinese manufacturers emulating Samsung's products.
