Huawei Surpasses Samsung in Q1 2024 Foldable Smartphone
Introduction
Huawei Surpasses Samsung in Q1 2024 Foldable Smartphone. In a surprising turn of events, the foldable smartphone market witnessed a significant shift in the first quarter of 2024. Huawei has dethroned Samsung, leading the global shipments for the first time. This development marks a critical milestone in the evolving competition within the foldable device sector.
Market Growth and Trends
According to the latest report from Counterpoint Research, the global foldable smartphone market grew by an impressive 49% in Q1 2024 compared to the same period last year. This growth, the highest in the last six quarters, has been primarily driven by substantial shipments from Chinese OEMs.
Leadership Shift
Huawei captured a dominant 35% market share, an impressive 257% increase from Q1 2023. The transition to 5G in their foldable devices has been a significant factor in this growth. Last year, Huawei’s foldables were only LTE capable, but by Q1 2024, 84% of their foldable device shipments were 5G models. The Huawei Mate X5, launched in September last year, has been a top seller in the Chinese foldable smartphone market for three consecutive quarters. Furthermore, the release of the first 5G clamshell model, the Pocket 2, in April significantly contributed to their Q1 shipments.
Challenges and Strategies
Despite challenges in securing 5G SoC supplies, Huawei has prioritized its foldable products due to their premium pricing. On the other hand, Samsung now holds the second place with a 23% market share, experiencing a 42% year-on-year decrease in shipments.
Emerging Competitors
HONOR and Motorola have also shown remarkable growth, capturing 12% and 11% of the market share, respectively. HONOR’s shipments outside China surged by 12,500% from last year, thanks to the success of its Magic V2, the thinnest clamshell model currently, which has become the most shipped foldable phone in Western Europe in Q1 2024. Motorola’s global market share increase is attributed to the popularity of the Razr 40 (also known as Razr 2023) in North America.
Conclusion
The first quarter of 2024 has set a new competitive landscape in the foldable smartphone market, with Huawei leading the charge. As these devices become more mainstream, their evolution continues to shape the future of mobile technology, emphasizing innovation and market adaptability.
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SAMSUNG Galaxy Z Fold 3 5G
