Foldable Phone Market Accelerates Growth, Honor Emerges as a Challenger to Samsung's Dominance

Foldable Phone Market Accelerates Growth, Honor Emerges as a Challenger to Samsung's DominanceAccording to the "Foldable Phone Shipment Tracker Report" by market research firm Counterpoint Research, global foldable smartphone shipments grew 48% year-over-year in the second quarter of 2024. The Chinese market remains the leader, accounting for over half of total shipments

Foldable Phone Market Accelerates Growth, Honor Emerges as a Challenger to Samsung's Dominance

According to the "Foldable Phone Shipment Tracker Report" by market research firm Counterpoint Research, global foldable smartphone shipments grew 48% year-over-year in the second quarter of 2024. The Chinese market remains the leader, accounting for over half of total shipments. Notably, the Western European market has emerged as the second-largest foldable phone market globally and is witnessing fierce competition. Honor surpassed Samsung in this quarter to become the market share leader in the region for the first time.

Honor Leads in Western Europe, Challenging Samsung's Dominance

The Western European market boasts a wider array of phone brands compared to China, with Honor, Samsung, OPPO, Motorola, OnePlus, and Google all vying for market share. Thanks to its technological innovation and price advantages, Honor successfully overtook Samsung in market share during the quarter.

Beyond its Western European success, Honor has also achieved significant growth in other Asian markets, with its foldable phone shipments surging 455% in the quarter. The Honor MagicV2 has become the best-selling book-style foldable phone in all regions outside of China.

Motorola Shines in North America and Latin America

Motorola has garnered considerable attention in North America and Latin America, securing the highest foldable phone market share in these regions. The strong performance of the Razr40 series has driven a 458% year-over-year increase in foldable phone shipments in Latin America.

A Shifting Landscape in the Foldable Phone Market

Previously, the foldable phone market outside of China was almost entirely dominated by Samsung. However, Honor and Motorola have achieved significant success in the first half of 2024, while Xiaomi and vivo have also started introducing foldable phones in markets outside of China, posing a certain threat to Samsung's market share.

Looking Ahead to the Future of Foldable Phones

As more phone manufacturers enter the foldable phone market and technology continues to advance, the market will experience even more intense competition. In the future, foldable phones will continue to enhance user experience and gradually become one of the mainstream smartphone form factors.

Specific Data:

• Global foldable smartphone shipments grew 48% year-over-year in the second quarter of 2024.

• The Chinese market accounts for over half of total shipments.

• The Western European market has become the second-largest foldable phone market globally.

• Honor has overtaken Samsung for the first time in market share in Western Europe.

• Honor's foldable phone shipments have surged 455% in the quarter.

• Motorola has the highest foldable phone market share in North America and Latin America.

• Foldable phone shipments in Latin America have grown 458% year-over-year.

Conclusion

The global foldable smartphone market exhibited strong growth in the second quarter of 2024, especially in Western Europe, where competition has intensified. With its robust product competitiveness and market strategies, Honor has successfully challenged Samsung's dominance, indicating a shifting landscape in the foldable phone market. In the future, the foldable phone market is expected to continue its rapid growth and gradually become one of the mainstream smartphone form factors.