Huawei Dominates Foldable Market, Leaving Samsung Behind

Huawei dominates the foldable smartphone market in the first quarter of this year (January to March), according to a recent report by Counterpoint Research. This news is quite surprising given Huawei’s reduced presence in global markets over the past few years, largely due to restrictions imposed by the US government, which cut off its access to Google services.

When people think about foldable smartphones, Samsung often comes to mind. However, during this period, Samsung only managed to secure the second spot in the foldable market. More notably, Samsung’s foldable phone sales plummeted by 42% compared to the same period in 2023.

Huawei Dominates Foldable Market, Leaving Samsung Behind

Huawei’s impressive 257% growth in foldable phone sales is mainly due to its success in China. This surge was significantly boosted by the launch of the Mate X5 last year. The device’s adoption of 5G technology played a crucial role in attracting Chinese consumers, leading to a remarkable increase in sales.

Honor, another Chinese brand, secured the third position in the market, showing a remarkable 460% growth in foldable phone shipments. However, the most significant growth came from Motorola, which saw a staggering 1,473% increase in foldable phone sales in the first quarter of this year compared to the first quarter of 2023. Overall, the global market for foldable devices grew by 49% year-on-year. While Huawei’s growth was primarily driven by sales in China, Honor and Motorola experienced significant growth outside China.

Honor’s market share in the foldable segment rose to 12%, up from just 3% a year ago. The Honor Magic V2 emerged as the most shipped foldable phone in Western Europe during the first quarter of 2024. Meanwhile, Motorola’s strong performance with its Razr series boosted its global market share in foldable to 11%, particularly in North America.

In the first quarter of 2024, “book-type” foldable phones accounted for 55% of global shipments, surpassing clamshell-style foldable for the first time since 2021

In the first quarter of 2024, “book-type” foldable phones accounted for 55% of global shipments, surpassing clamshell-style foldables for the first time since 2021. However, this trend might change later this year with the anticipated release of Samsung’s Galaxy Z Flip6. Additionally, Huawei is reportedly planning to launch a more affordable clamshell-style foldable. Both Xiaomi and Honor will soon release their first flip-style foldable.

The rise of foldable smartphones marks a significant shift in the mobile phone industry. Companies are continuously innovating to capture market share in this emerging segment. Huawei’s success in the first quarter of 2024 demonstrates its resilience and ability to adapt to market demands, despite previous setbacks. As other manufacturers like Honor and Motorola make significant strides, the competition in the foldable market will intensify, driving further innovation and potentially leading to more affordable and advanced foldable devices for consumers worldwide.

The growth in the foldable phone market also highlights the evolving preferences of consumers who are increasingly seeking versatile and high-tech mobile devices. As technology continues to advance, the foldable smartphone market is likely to expand further, offering a variety of options to meet diverse consumer needs. This trend underscores the dynamic nature of the smartphone industry and its capacity for rapid transformation and adaptation.