Honor's Rise: The New King of the European Foldable Market

Honor's Rise: The New King of the European Foldable MarketData from market research firm Counterpoint Research shows that global foldable phone shipments grew 48% year-on-year in the second quarter of 2024. China continues to lead global foldable phone market growth, accounting for over half of total shipments

Honor's Rise: The New King of the European Foldable Market

Data from market research firm Counterpoint Research shows that global foldable phone shipments grew 48% year-on-year in the second quarter of 2024. China continues to lead global foldable phone market growth, accounting for over half of total shipments. Western Europe has become the second-largest foldable phone market after China, with brands like Honor, Samsung, Motorola, OPPO, OnePlus and even Google competing fiercely.

In this fiercely competitive market, Honor made a significant breakthrough in the second quarter of 2024 - surpassing Samsung for the first time to become the number one foldable phone brand in Western Europe, marking a major shift in the competitive landscape of the region. This report from Counterpoint Research also reveals the key factors behind Honors success: its aggressive expansion into the European and Asia-Pacific (excluding China, India and South Korea) markets. Data shows that Honor's global foldable phone shipments grew 455% year-on-year in the second quarter of 2024, the highest year-on-year growth among all brands.

Even more impressively, another set of data shows that in the first half of 2024 compared to the first half of 2023, 70% of the sales growth of large foldable devices in Europe came from Honor. This implies that 70% of the sales growth of large foldable devices in Europe was contributed by Honor.

Honors success in capturing the top spot in the Western European foldable market, amidst Samsung's sustained strong performance in the foldable track and its long-standing dominant position in the European market, signifies Honors accelerating global expansion and its entry into a new phase of development.

In a previous interview, Honor CEO Zhao Ming stated that Europe has become Honors second-largest market outside of China, and thanks to the success of its flagship Magic series and foldable products, Honors ASP (average selling price) in Europe is more than double that of other overseas regions, demonstrating simultaneous growth in both volume and price.

Honors success is no coincidence; its strategic layout is clear. Honor has actively expanded into the European market and tailored products and services to meet the needs of local consumers. For example, Honor launched a series of major new products, including the Honor Magic V3, at IFA 2024 in September, demonstrating its ambition in the European market.

Honors achievements in the European market are not only a testament to its own strength but also reflect the growing influence of Chinese brands in the global market. As Honor continues to deepen its presence in the European market, it is expected to achieve even greater success in the future and bring more high-quality products and services to global consumers.