When it comes to foldable phones, most people think of Samsung as the pioneer and market leader in this sector. However, in the first quarter of 2024, there was a shift in the championship position. Huawei saw a tremendous sales growth (+257% in one year) and rose to the number one spot with a market share of 35%, pushing Samsung down to second place with a market share of 23%.
This shift was reported by Counterpoint Research, attributing the change to the booming foldable smartphone market in China. Huawei’s key products, the Huawei Mate X5, the company’s first 5G foldable phone (previously only LTE), and the vertically-folding Huawei Pocket 2, both contributed to their success.
Other brands in the foldable phone market also saw sales growth, with Honor and Motorola ranking second. The Honor Magic V2 became the best-selling foldable phone in Western Europe, while Motorola’s Razr 40 performed well in the North American market.
Counterpoint also noted that the market share of book-type foldable phones has now surpassed clamshell foldable phones, accounting for 55% of the market. This shift happened for the first time in 2021 and was driven by Chinese brands focusing on book-type foldables in the latter half of 2023.
Source – Counterpoint
TLDR: Huawei overtakes Samsung as the top foldable phone vendor in Q1 2024, driven by strong sales growth in China’s foldable phone market. Other brands like Honor and Motorola also see success in the foldable phone market as book-type foldables gain dominance over clamshell foldables.
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