📷 Image Credits: GSMArena.com
In a surprising turn of events, Huawei has emerged as the top player in the foldable smartphone market, surpassing Samsung in sales for the first quarter of 2024. Counterpoint Research’s latest report reveals that Huawei experienced a remarkable 257% growth in foldable smartphone sales, largely driven by strong performance in China. The introduction of the Mate X5 with 5G connectivity proved to be a game-changer for Huawei, attracting significant interest from Chinese consumers.
On the other hand, Samsung, the erstwhile leader in foldable sales, experienced a significant setback with a 42% drop in sales compared to the previous year. Despite being a pioneer in the foldable space, Samsung’s decline allowed Huawei to claim the top spot. Honor and Motorola also saw substantial growth, with Honor securing the third position in shipments and Motorola witnessing a staggering 1,473% increase in sales of foldables.
Furthermore, the shift towards ‘book-type’ foldables was evident in the market, accounting for 55% of global shipments, surpassing clamshell-type foldables for the first time since 2021. This trend is expected to continue with the upcoming releases of the Galaxy Z Flip6 from Samsung and flips from Xiaomi and Honor. Huawei’s plans to launch a cheaper clamshell-style foldable indicate a competitive strategy to maintain its lead in the market.
The success of Chinese brands in the foldable market marks a significant shift, with Huawei, Honor, and Motorola capturing substantial market shares globally. Huawei’s strategic focus on 5G adoption and strong performance in its home market have been instrumental in its ascent to the top position. With continuous innovation and an evolving market landscape, the competition among foldable smartphone manufacturers is expected to intensify in the coming months.
Overall, the growth of foldable devices by 49% year-on-year highlights the increasing popularity and acceptance of this form factor among consumers. As Huawei continues to dominate the market and Samsung faces challenges in maintaining its market share, the dynamics of the foldable smartphone industry are set for further evolution and competition.
