Huawei Tops Global Foldable Smartphone Market
New analysis indicates Huawei has become a leading performer in the global market for foldable smartphones. The broader foldable market faced fluctuations in 2024. Huawei navigated these challenges to expand its market presence.
Samsung Remains at the Top but Faces Market Headwinds
According to a Counterpoint Research report, Samsung retains the top position in foldable smartphones. However, this leadership is met with resistance. The report highlights a significant 33% year-over-year decline in the foldable segment. This downturn is largely attributed to reduced sales in the fourth quarter of the previous year. Analysts suggest consumer price sensitivity may have negatively impacted Samsung's Galaxy Z series sales.
Huawei's Remarkable Growth Trajectory
In contrast to the overall market trend, Huawei demonstrated exceptional performance. The Chinese company experienced an impressive 54% growth in foldable phone sales. This surge elevates Huawei to the second position in global rankings. The Mate X3 and Mate X6 models are key contributors to this success. These models have been well-received by consumers due to their design and innovative features.
Competitive Shifts in the Foldable Market
Beyond the top two market leaders, the foldable segment is witnessing notable shifts in competition:
- Motorola: Achieved substantial growth, with sales increasing by 253%, securing third place.
- Honor: Showed strong momentum, recording a 106% year-over-year sales increase.
- Xiaomi: Ranked in the top five, demonstrating a solid 108% performance increase.
- Vivo: Experienced growth, albeit at a more moderate rate of 23%.
- OPPO: Uniquely among leading brands, OPPO faced a significant 72% decline in foldable sales.
Future Market Perspectives
Counterpoint analysts anticipate a potentially demanding year for the foldable market. They project a possible overall market decline for the first time. This projection is not indicative of long-term segment decline. Instead, it may signal a period of transformation and anticipation. The expected entry of new competitors, most notably Apple, into the foldable market could reshape the landscape as early as 2026. The coming years are poised to be dynamic for foldable smartphones. Increased competition and technological advancements are expected.
