Samsung has consistently been the market leader in the foldable smartphone segment since it began operating. But for the first time, the South Korean technology company was not the segment leader in a quarter.
The most recent data from Counterpoint Research reveals that Huawei grew 257% last year in this segment. And this led to the Chinese company achieving a 35% market share in the foldable smartphone segment in the first quarter of 2024.
Credit: Counterpoint Research
These numbers not only served to defeat Samsung, but to surpass it by a large margin. Samsung fell from a 58% market share to 23% in the space of a year. At stake is a 42% loss in actual equipment shipments.
Huawei Mate X5 is one of those responsible for the success
Huawei's great growth in this period is due to the brand's entry into the segment with equipment with access to 5G mobile networks. The Mate X5 has become a real bestseller in the Chinese market and the Pocket 2 has also been quite popular.
It is known that Huawei has lost a lot of steam in markets outside China since the ban carried out by the United States. Therefore, these numbers will be leveraged by the great success of the brand in the domestic market.
Huawei is not the only growing brand. Honor and Motorola also saw brutal growth of 460% and 1473%, respectively, in the space of a year. This puts Honor with a 12% market share and Motorola with an 11% market share.
It is important to note that Counterpoint states that smartphones in book format represent 55% of total sales of foldable smartphones. It is the first time since 2021 that they are in the majority. This is explained by the fact that this year's clamshell foldable smartphones are scheduled to be launched in the coming months.
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