According to data from market research firm Counterpoint, Samsung has lost the first position in the global foldable market share and Huawei has captured the top spot. While Samsung came in second, Honor and Motorola have also achieved significant success, securing the third and fourth positions respectively in global foldable smartphone shipments.
Samsung initially had a competitive edge
Samsung occupied the top spot in the foldable market for quite a few years. A big reason behind this is the company’s early venture into the foldable space. When the competitors started with the new form factor, Samsung had already learned quite a few things from its first and second-generation products. So it had that competitive edge a couple of years ago. However, its competitors also walked on the same path managing to solve the glaring issues associated with the new form factor. In fact they were the first to close the gap to zero when the phone is folded.
The Honor Magic V2 also caught significant attention with its 9.9mm slick (when closed) form factor and 231g weight. For those unfamiliar, the Galaxy Z Fold 5 that released a couple of days after the Honor Magic V2 last year measures 13.4mm when closed and weighs 253g. While it still has the edge when it comes to software features, people seemingly liked the slick lightweight design, which also offers some cool features.
In addition to all of this, the Chinese market reportedly started preferring products from Chinese manufacturers. It also caused significant damage to Samsung’s foldable market share in the country. Huawei quickly occupied the first position with Honor having the second, followed by other Chinese OEMs. Samsung has already lost its grip on the Chinese market coming in the last position.
Samsung has lost the top spot in foldable market share in Q1 2024
According to Counterpoint’s report on the global foldable market share, the market has seen an overall 49% growth in Q1 2024. However, Samsung saw a 42% decrease in shipments in the global market as well. This is especially surprising as the company in the top spot isn’t available in the US at all. The third position is reportedly occupied by Motorola, which has seen a 1473% year-on-year increase in global foldable shipments. A part of Huawei’s success is also attributed to its adoption of 5G.
