Huawei overtakes Samsung to become the new king 2024 of foldable device sales
According to a new report from Counterpoint Research, Huawei sold the most foldable smartphones in the first quarter of this year (January to March). This is a pretty shocking fact considering how paltry Huawei’s sales have been in most parts of the world in recent years, ever since the US government decided to block Huawei’s access to Google services. When most people think of foldable devices, Samsung comes to mind, and yet, the Korean company only managed to come in second place during the same period. Moreover, Samsung’s sales of foldable devices fell significantly compared to the number one spot. It will return 42% in the quarter of 2023. Huawei’s 257% growth is mainly due to sales in China, where the company’s sales increased sharply after the launch of the Mate X5 last year. The long-awaited leap to 5G connectivity appears to have played a key role in sparking Chinese consumers’ interest in Huawei’s foldable devices. Honor was third in shipments with a 460% increase, but the most impressive growth was from Motorola, which sold 1,473% more foldable devices in the first quarter of this year than in the first quarter of 2023. Overall, foldable device sales increased y/y – down 49% year-on-year. Unlike Huawei, Honor’s and Motorola’s growth came mostly from outside China. Honor’s market share in the foldable segment now stands at 12%, up from 3% a year ago. The Honor Magic V2 became the most shipped foldable phone in Western Europe in Q1 2024. Motorola’s global foldable market share is now at 11% due to the strength of the Razr series in North America. In Q1 2024, “book” foldables accounted for 55% of global shipments, overtaking clamshell foldables for the first time since 2021. However, that could change again when Samsung releases the Galaxy Z Flip6 later this year (just kidding). Huawei is reportedly planning to launch a cheaper clamshell foldable device, while Xiaomi and Honor are set to release their first flip devices.
Huawei tops global shipments of 5G foldable smartphones in Q1 2024
Global shipments of foldable smartphones in Q1 2024 grew 49% year-on-year, driven by Huawei, HONOR and Motorola.
Huawei’s 5G transition for foldable devices has allowed the brand to quickly gain a competitive advantage. HONOR and Motorola shipments outside of China increased significantly compared to last year. Foldable books are becoming increasingly popular, with shipments surpassing clamshell books for the first time in 11 consecutive quarters. Seoul, Beijing, Buenos Aires, Fort Collins, Hong Kong, London, New Delhi, San Diego, Taipei, Tokyo – May 30, 2024 According to Counterpoint Research’s latest foldable smartphone shipment tracker, the global foldable smartphone market grew 49% year-on-year in Q1 2024, the highest growth rate in the past six quarters. The increase is mainly due to a significant increase in shipments from several Chinese OEMs. Notably, Huawei topped global quarterly shipments for the first time, overtaking Samsung, which has always led the market. Huawei’s transition to 5G in foldable devices was the main driver of its 257% year-on-year growth in the quarter. A year ago, Huawei’s foldable portfolio consisted only of LTE devices. But by the first quarter of 2024, the share of 5G-enabled foldable devices had increased to 84% of the brand’s total foldable device shipments. Huawei’s first book-sized 5G foldable device, the Mate X5, was launched last September and has been one of the best-sellers in the Chinese foldable device market for three consecutive quarters. In April 2024, Huawei also launched its first 5G clamshell model, the Pocket 2, which contributed significantly to its shipments in the first quarter. Despite challenges in supplying its in-house 5G SoC, Huawei will likely continue to prioritize foldable devices given their higher price point. In contrast to Huawei’s focus on the Chinese market, HONOR and Motorola have also achieved significant shipment growth in overseas markets. HONOR’s global market share in foldable devices rose to 12% in Q1 2024 from 3% a year ago, making the company the third-largest player. Shipments outside China increased significantly from a small base, driven by the slimmest foldable book model, the HONOR Magic V2, which became the most shipped foldable phone in Western Europe in Q1 2024. Similarly, Motorola expanded its global market share to 11%, with the Razr 40 (also known as the Razr 2023) becoming the top model in North America, now in fourth place. Also, in the first quarter of 2024, foldable books will account for 55% of the global shipments of the foldable device market, the first time since 2021, when the foldable smartphone market began to grow significantly with the launch of the Samsung Galaxy Z Flip. 3. Surpassed clamshell type. Except for the Chinese foldable device market, the clamshell market, mainly led by Samsung, has always been popular due to its low price. Although Chinese OEMs such as Huawei, HONOR, OnePlus, and vivo have been steadily launching new books since the second half of last year, the growth of Samsung’s clamshell type segment has slowed, and this quarter has seen a reversal among the popular types. Despite the rise of foldable books, expectations for the clamshell market’s growth potential remain high this year, buoyed by several highly anticipated product launches. Samsung is looking to reclaim market leadership with the upcoming Z Flip 6, which promises improved performance and reliability. Huawei is also setting aggressive targets for the clamshell market, planning to expand its portfolio with cheaper models. Both HONOR and Xiaomi are looking to enter the clamshell race for the first time, intensifying market dynamics. Background Counterpoint Technology Market Research is a global research firm specializing in TMT (technology, media, and telecommunications) industry products. We serve leading technology and financial companies with a combination of monthly reports, customized projects, and in-depth analysis of the mobile and technology markets. Its lead analysts are experienced professionals in the high technology industry.
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