Huawei has defied expectations by surging past Samsung to become the world’s leading foldable phone brand in Q1 2024.
According to Counterpoint Research, Huawei’s foldable shipments skyrocketed by a whopping 257% year-over-year in the first three months of 2024. This drastic growth stands in stark contrast to Samsung’s performance, with the Samsung experiencing a significant drop in market share. The company fell from a dominant 58% in Q1 2023 to a mere 23% in this year’s first quarter.
Image/ Counterpoint Research
Despite its limited chip resources, it seems the company’s transition to 5G is a key factor. In Q1 2024, a staggering 84% of Huawei’s foldable shipments were 5G-enabled, a significant gap to none in the same period last year. Counterpoint credits Huawei’s popular foldable models, the fold-style Mate X5 10 and flip-type Pocket 2, for propelling their success.
This marks the first time the Chinese tech company has claimed the top spot in the growing foldable market. This is all while facing ongoing US sanctions.
However, it’s worth noting that most of Huawei’s foldable sales are concentrated in China, with limited availability in other regions.
With Samsung gearing up to launch the Galaxy Z Fold 6 and Flip 6, it’ll be fascinating to see if they can reclaim the throne or if Huawei’s reign has just begun.
Motorola, Honor secures 2nd, 3rd spot; ‘book-type’ foldables getting more traction
As for the rest of the market share, Motorola is experiencing a foldable phone renaissance. Their Razr 40 (or Razr 2023) reportedly became the top foldable model in North America, leading to a staggering 1473% growth compared to Q1 2023. This surge places them as the fourth-largest foldable brand with an 11% market share.
Honor also deserves a mention, securing the third position with a 12% market share thanks to their Honor Magic V2, which reportedly reigned supreme in Western Europe’s foldable market during Q1 2024.
Another interesting trend to emerge from the report is the rise of “book-type” foldables. For the first time since 2021, these larger foldables accounted for over half (55%) of global shipments, surpassing the popularity of clamshell-type foldables.
