Samsung was technically the first smartphone manufacturer to launch a foldable smartphone. The Galaxy Z Fold lineup gained popularity much quicker than expected. However, the increasing popularity of the device forced other brands to introduce their competitor devices.
For a long time, Samsung had been ranked at the top of foldable smartphone sellers worldwide. However, the brand has now lost its crown to Huawei.
Huawei Dethrones Samsung to Become Top Foldable Smartphone Seller Worldwide
Huawei has achieved the title of the world’s leading foldable smartphone brand in the first quarter of 2024. This is a significant achievement for the brand, given Samsung’s previous dominance in this market and the sanctions imposed on Huawei by the United States.
The research firm Counterpoint has published its report on Global Foldable Smartphone Shipments by OEM share for Q1 2024. According to this report, Huawei has grown by whopping 257% in the first quarter of the year. Additionally, overall smartphone shipments have also grown by as much as 48%.
Almost all brands, except one, have achieved remarkable growth. Honor recorded a 460% growth in the first three months, and Motorola recorded a staggering growth rate of 1,473%. The report confirms that the foldable smartphone market is growing at a very rapid pace, with more and more people becoming interested in buying a foldable smartphone.
Samsung is the Only Foldable Manufacturer to Report Negative Growth
While all other brands are experiencing significant growth, Samsung’s shipments have fallen by 42%. This drop in Samsung’s market share is the primary reason it has been pushed down to the second position.
It is also interesting to note that Huawei has much less availability overseas compared to Samsung. While Samsung is available in almost all countries, Huawei is limited to China and selected regions such as the Middle East.
Despite the smaller market, Huawei has achieved a very high growth rate. The majority of the brand’s sales are said to be coming from mainland China. Moreover, key upgrades to its foldable smartphones are considered to be significant drivers of the company’s success. Huawei states that it has huge plans for the foldable smartphone market.
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