Samsung Leads Global Foldable Phone Market: Lenovo Follows Closely, Chinese Brands Rise

Samsung Leads Global Foldable Phone Market: Lenovo Follows Closely, Chinese Brands RiseWhile Huawei dominates the domestic Chinese foldable phone market, Samsung reigns supreme globally. Remarkably, Lenovo claims the second position worldwide, a fact that may differ from common perceptions

Samsung Leads Global Foldable Phone Market: Lenovo Follows Closely, Chinese Brands Rise

While Huawei dominates the domestic Chinese foldable phone market, Samsung reigns supreme globally. Remarkably, Lenovo claims the second position worldwide, a fact that may differ from common perceptions. This information comes from IDC's Q3 2024 global foldable phone market report.

The report reveals that after a significant market share drop in Q1 due to competition from Chinese manufacturers, Samsung rebounded strongly in Q3, reclaiming the top spot. Samsung secured a commanding 51.2% market share, far ahead of the competition. Lenovo (Motorola) followed closely with 15.1%, surpassing Huawei, which held 13.2%. Honor and Xiaomi occupied the fourth and fifth positions with 7.6% and 6.3% respectively.

It's important to note that the report provides only market share and rankings, not specific shipment numbers. Nevertheless, Samsung's dominance is clear. Its 51.2% share means the combined market share of all other brands still falls short. Samsung's success stems from its global strategy, strong international brand recognition, and the launch of two new foldable phones in Q3.

Lenovo's second-place ranking is equally noteworthy, outperforming Huawei globally. This is largely attributed to Motorola's successful vertical foldable phones in overseas markets. If considering only the vertical foldable segment, Lenovo might even be the leader.

The report offers hope for Chinese manufacturers. Excluding Samsung, the remaining top five brands are all Chinese, suggesting future competition will primarily be between Chinese brands and Samsung mirroring the dynamic in the traditional smartphone market.

A deeper analysis reveals several key factors. Samsung's 51.2% market share highlights its advantages in technological innovation, branding, and global supply chain management. Its longstanding expertise in display technology and mobile processors provides a solid foundation for foldable phone R&D and production. Strong global brand recognition and consumer trust also contribute significantly. The two new Q3 models further solidified its lead, improving design and performance while benefiting from substantial marketing investment.

Lenovo (Motorola)'s strong performance, with 15.1% market share, surpassing Huawei, is due to Motorola's success with vertical foldables. Motorola's design and user experience offer unique advantages, appealing to specific consumer preferences, particularly in overseas markets. Lenovo's global success sets a positive example for other Chinese manufacturers.

Huawei, despite ranking third with 13.2% market share, remains a strong competitor, leveraging substantial technological innovation and product development expertise. Its high-end foldable phones continue to lead the domestic market. Future global success will depend on its globalization strategy and brand building efforts.

While Honor and Xiaomi currently hold smaller market shares, their presence signifies the active participation and growth potential of Chinese manufacturers in the foldable phone market. Both companies are actively developing innovative products and expanding internationally.

In conclusion, IDC's report clearly illustrates the competitive landscape of the global foldable phone market. Samsung remains the undisputed leader, but the rise of Chinese brands cannot be ignored. The future will see intensified competition, with Chinese manufacturers playing an increasingly important role. This competition is not just about market share but also about technological innovation and industry development. We can expect more innovative and exciting products, offering consumers greater choice and driving industry progress. This is not only an opportunity for Chinese manufacturers, but also a boon for global consumers. The foldable phone market is evolving towards greater diversity and dynamism.