In a significant shift in the global foldable smartphone market, China’s Huawei has surpassed Samsung for the first time as world’s largest foldable maker, according to a report released by Counterpoint Research.
Huawei’s integration of 5G technology into its foldable devices reportedly propelled its market performance.
Honor’s global market share in the foldable segment soared to 12 percent in Q1 2024 from 3 percent a year ago, driven by a 460 percent increase in shipments.
As for the foldable smartphone market overall, it grew by 49 percent year-over-year in Q1 2024, marking the highest growth rate in six quarters.
Traditionally, Samsung has launched its Galaxy Z series foldables in August, with last year’s event taking place on July 26 in Seoul.
In a significant shift in the global foldable smartphone market, China’s Huawei has surpassed Samsung for the first time as world’s largest foldable maker, according to a report released by Counterpoint Research. Huawei’s integration of 5G technology into its foldable devices reportedly propelled its market performance.
Huawei saw a remarkable 275 percent year-over-year growth in the January-March quarter of 2024, driven primarily by its transition to 5G-enabled foldables. In stark contrast, Samsung, which has historically dominated this market segment, saw a 42 percent decline in shipments, reducing its market share from 58 percent in Q1 2023 to just 23 percent in Q1 2024.
Counterpoint’s report highlighted, “A year ago, Huawei’s foldable portfolio consisted solely of LTE devices. However, by Q1 2024, the proportion of 5G-enabled foldables surged to 84 percent of the brand’s total foldable shipments.”
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Huawei’s Mate X5, launched in September 2023 as the company’s first 5G foldable, has been a bestseller in China’s foldable market for three consecutive quarters, the report suggests. Additionally, the release of Huawei’s first clamshell model, the Pocket 2, in April 2024, significantly boosted the company’s Q1 shipments.
Despite challenges in securing supplies for its self-developed 5G system-on-chip (SoC), Huawei is prioritising its foldable segment due to their higher price positioning, according to the research firm.
While Huawei focuses primarily on the Chinese market, other OEMs like Honor and Motorola have seen substantial growth in overseas markets. Honor’s global market share in the foldable segment soared to 12 percent in Q1 2024 from 3 percent a year ago, driven by a 460 percent increase in shipments.
Motorola also made significant strides, increasing its global market share to 11 percent and ranking fourth overall.
As for the foldable smartphone market overall, it grew by 49 percent year-over-year in Q1 2024, marking the highest growth rate in six quarters. This expansion was primarily driven by significant shipment increases among several Chinese OEMs. Notably, book-style foldables accounted for 55 percent of global foldable shipments in Q1 2024, surpassing clamshell models for the first time since 2021, when the market began its significant growth following the release of the Samsung Galaxy Z Flip 3.
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The numbers could change in the coming days though as Samsung looks to capture lost ground with its upcoming Galaxy Z Fold 6 and Galaxy Z Flip 6 foldable devices which are pegged for launch on July 10 in Paris. The launch is strategically timed to align with the Paris Olympics, which begins on July 26, the Chosun Daily said in its latest report. Traditionally, Samsung has launched its Galaxy Z series foldables in August, with last year’s event taking place on July 26 in Seoul.
This year’s earlier release in Paris is reportedly part of Samsung’s strategy to reclaim its position as the world’s leading smartphone manufacturer by shipment volume, a title it lost to Apple last year for the first time in over a decade.
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