In a surprising turn of events, HUAWEI has dethroned Samsung as the world’s leading foldable phone manufacturer in the first quarter of 2024.
According to a report by Counterpoint Research, the Chinese tech giant captured a staggering 35% of the global foldable market share, surpassing Samsung’s 23% during the same period.
HUAWEI’s Triumphant Rise with 5G Foldables
HUAWEI’s meteoric rise can be attributed to its successful transition to 5G foldable devices, with the Mate X5 and HUAWEI Pocket 2 being standout performers.
The Mate X5, in particular, has been a consistent best-seller in China for three consecutive quarters, solidifying HUAWEI’s dominance in its home market.
Samsung, once the undisputed leader in foldable phones since the launch of the original Galaxy Fold in 2019 and the Galaxy Z Flip in 2020, has been forced to relinquish its throne.
Just a year ago, the Korean manufacturer held a commanding 58% global share, while HUAWEI trailed behind at 14%.
Rising Stars in the Foldable Market
The foldable phone market has witnessed a remarkable shift, with HONOR and Motorola also experiencing substantial year-over-year growth.
Counterpoint Research highlighted the brands’ strong overseas shipments, securing them the third and fourth positions, respectively, in the global foldable phone market.
Interestingly, the report revealed that book-style foldable phones accounted for the majority (55%) of global foldable phone shipments for the first time since 2021.
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However, with the anticipated launches of Flip-style foldables from HONOR, Xiaomi, and Samsung’s Galaxy Z Flip 6 later this year, the trend is expected to reverse, with Flip-style foldables likely to dominate shipments by the end of 2024.
While HUAWEI’s success can be attributed to its 5G foldable strategy, it’s worth noting that the company has heavily relied on its home market since the introduction of a trade ban in 2019.
As such, it’s likely that a significant portion of HUAWEI’s foldable phone shipments originated from China, where the brand continues to maintain a strong foothold.
The Future of Foldable Phones
As the foldable phone market continues to evolve and gain traction, HUAWEI’s remarkable ascent serves as a testament to the brand’s agility and commitment to innovation.
The battle for foldable supremacy is heating up, and consumers can expect an exciting array of cutting-edge devices from various manufacturers in the coming months.
With new form factors and advanced technologies on the horizon, the foldable phone landscape is poised for further disruption and intense competition.
