Huawei overtakes the pioneer Samsung as leading foldable smartphone maker

Huawei has overtaken Samsung to become the global leader in the foldable smartphone market for the first quarter of 2024, according to a report by market research firm Tech Insights. This marks a significant milestone for Huawei, whose market presence surged by an impressive 257% compared to the same period last year. This growth has allowed Huawei to outpace both Samsung and Honor in the foldable device segment.

Key Highlights:

Huawei's Growth: Huawei achieved a remarkable 257% year-on-year growth, largely driven by its dominance in the vertically folding device market.

Samsung's Performance: Despite a 25% decline in market share year-on-year, Samsung retained its leadership in the clamshell-style flip phone market, which features phones that fold horizontally.

Chinese Market Trends: The foldable phone market in China grew by 94% year-on-year, with a strong consumer preference for fold-style phones over flip-style models.

North American Market: The North American foldable phone market experienced a 143% increase year-on-year. In this region, flip-style phones remain popular, with Motorola surpassing Samsung to take the top spot, followed by Samsung and OnePlus.

Other Notable Performances:

Motorola: Lenovo's Motorola saw an extraordinary growth rate of 1260%, overtaking Samsung in North America.

Honor: Achieved a 480% increase in market share.

Vivo: Reported a 331% growth.

Xiaomi: Grew by 41%.

Declines: Samsung and Oppo experienced declines in market share, with Samsung down 25% and Oppo down 75%.

Historical Context:

Samsung, the pioneer in the foldable smartphone market, introduced the world's first foldable device in 2019 and once held a commanding 60-70% market share. However, the landscape has shifted dramatically as Chinese manufacturers have emulated and improved upon Samsung's innovations, intensifying competition.

This dynamic market environment underscores the rapid advancements and shifting consumer preferences within the foldable smartphone sector, highlighting Huawei's strategic successes and Samsung's ongoing challenges.