HUAWEI has overtaken Samsung to become the leading brand for foldable smartphones globally in the first quarter of 2024. This achievement marks the first time the Chinese tech giant has claimed the top spot in this rapidly growing market, despite facing ongoing US sanctions.
According to research firm Counterpoint, HUAWEI’s foldable smartphone shipments surged by an impressive 257% year-on-year during the first three months of the year. In Q1 2024, “book-type” foldables accounted for 55% of global shipments, surpassing clamshell-type foldables for the first time since 2021.
A key factor behind Huawei‘s success is its focus on 5G models. In the March quarter, 84% of Huawei’s foldable shipments were 5G-enabled, a notable increase from none in the same period last year. Counterpoint highlights the popularity of Huawei’s Mate X5 (booklet-type) and Pocket 2 (clamshell-type) models. Most of Huawei’s sales come from China, although its foldables are also available in regions like the Middle East.
Meanwhile, Motorola has performed exceptionally well in this segment, with an astonishing growth of over 1473% compared to Q1 2023. This surge has made Motorola the fourth largest foldable brand with an 11% market share. According to Counterpoint, its Razr 40 (also known as Razr 2023) became the top model in North America.
HONOR holds a slightly higher market share at 12%, placing it in third position. The HONOR Magic V2 was the most shipped foldable phone in Western Europe in Q1 2024.
Samsung has struggled with innovation in its foldable lineup, which may explain its downturn in the market. However, the brand is currently preparing for the launch of the Galaxy Z Fold 6 and Flip 6. Will they manage to bounce back and reclaim their lost position?
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