Huawei Surpasses Samsung as the Leading Global Foldable Smartphone Brand

Huawei Surpasses Samsung as the Leading Global Foldable Smartphone Brand

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For the first quarter of 2024, Huawei has outpaced Samsung to become the world’s leading brand in the foldable smartphone market.

This marks the first time the Chinese company has secured the top position in this rapidly growing sector despite ongoing US sanctions.

According to research firm Counterpoint, Huawei’s shipments of foldable smartphones surged by an astounding 257% year-over-year in the first three months of the year.

This significant increase contrasts sharply with Samsung’s performance. The South Korean company’s market share plummeted from 58% in Q1 2023 to just 23% in Q1 2024, despite the total global foldable smartphone shipments increasing by 49%.

One key driver behind Huawei’s success in the foldable market is its focus on 5G models. In the March quarter, 84% of Huawei’s foldable shipments supported 5G technology, compared to none during the same period last year.

Huawei Surpasses Samsung as the Leading Global Foldable Smartphone Brand

Counterpoint reports that Huawei’s popular foldable models were the Mate X5 (a book-type foldable) and the Pocket 2 (a clamshell-type foldable). Most of Huawei’s sales come from China, although its foldable devices are available in regions such as the Middle East.

Conversely, Samsung needs to innovate its foldable lineup faster, which may explain its market decline.

Motorola has also performed exceptionally well in this sector, achieving growth of over 1473% compared to Q1 2023. It is now the fourth-largest foldable brand with an 11% market share. According to the research firm, the Razr 40 (also known as the Razr 2023) has become the top model in North America.

Honor holds a slightly higher market share of 12%, placing it third. The Honor Magic V2 was the most shipped foldable phone in Western Europe in Q1 2024.

In Q1 2024, book-type foldable devices accounted for 55% of global shipments, surpassing clamshell-type foldable devices for the first time since 2021.

Samsung is preparing to launch the Galaxy Z Fold 6 and Flip 6. It will be interesting to see if the company can bounce back and regain its lost position.

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