Honor Surpasses Samsung, Western Europe Becomes Second Largest Foldable Phone Market! Global Shipments Grow by 48% YoY

Honor Surpasses Samsung, Western Europe Becomes Second Largest Foldable Phone Market! Global Shipments Grow by 48% YoYMarket research firm Counterpoint Research recently released a report stating that global foldable phone shipments grew by 48% year-on-year in the second quarter of 2024. China continues to lead market growth, accounting for over half of total shipments

Honor Surpasses Samsung, Western Europe Becomes Second Largest Foldable Phone Market! Global Shipments Grow by 48% YoY

Market research firm Counterpoint Research recently released a report stating that global foldable phone shipments grew by 48% year-on-year in the second quarter of 2024. China continues to lead market growth, accounting for over half of total shipments. Thanks to domestic mobile phone manufacturers' active overseas expansion, foldable phone shipments in Western Europe, the Asia Pacific region (excluding China, India, and South Korea), and Latin America have increased significantly.

Western Europe Becomes the Second Largest Foldable Market Globally

According to the report, Western Europe has become the second largest foldable market after China, attracting intense competition from numerous mobile phone brands. Brands like Honor, Samsung, Motorola, OPPO, OnePlus, and even Google are all vying for market share in Western Europe. The region's intensifying brand competition is a primary driver of market growth.

It's worth noting that in the second quarter of 2024, Honor surpassed Samsung to become the number one foldable brand in Western Europe for the first time. This marks a significant shift in the region's competitive landscape. This phenomenon indicates a growing demand for foldable phones among Western European consumers, as well as the rapid rise of Honor's brand in overseas markets.

Honor's Global Shipments Surge 455% YoY

Honor has actively expanded into the European and Asia Pacific (excluding China, India, and South Korea) markets. Its global foldable phone shipments rose an astonishing 455% year-on-year in the second quarter of 2024, representing the highest year-on-year growth among all brands. Targeting markets beyond China, Honor launched the ultra-thin MagicV2, with a folded thickness of less than 10 millimeters.

In the second quarter of 2024, the Honor MagicV2 was the top-selling book-type foldable product in all regions outside of China. Huawei dominates the Chinese market. Honor's success indicates that its product innovation and marketing strategies have been well-received by overseas consumers, and it is poised to further expand its global market share in the future.

Motorola Exhibits Strong Performance in North America and Latin America

In North America and Latin America, Motorola holds the highest foldable phone market share. The strong performance of the Razr40 series propelled a 458% year-on-year increase in the foldable phone market in Latin America and the Caribbean. Motorola's shipments have significantly increased in Europe, Asia, and other markets, achieving the most diverse regional coverage among Chinese original equipment manufacturers. Overall, Motorola's global shipments in the second quarter of 2024 experienced triple-digit year-on-year growth.

Motorola's success in the foldable phone space is attributed to its efforts in product design, innovation, and marketing. Its Razr series, with its unique design and features, has attracted numerous consumers and become a mainstream choice in the Latin American market.

Conclusion

The global foldable phone market exhibited robust growth in the second quarter of 2024, with China continuing to lead market growth. Western Europe has emerged as the second-largest market globally, attracting intense competition from numerous mobile phone brands. Honor's surpassing of Samsung in the Western European market, becoming the market leader, along with its global shipments growing by 455% year-on-year, demonstrates its strong market competitiveness. Motorola has shown strong performance in North America and Latin America, with its Razr series products gaining consumer favor.

As foldable phone technology continues to mature and prices decline, the global foldable phone market is expected to experience even faster development in the future. More mobile phone brands will join the competition, providing consumers with more choices.