Foldable smartphones have emerged as a transformative trend in the ever-evolving smartphone industry, combining innovative design and functionality. Initially a novel concept, they have quickly gained popularity due to advancements in technology, enhanced hinges, and engineering. These devices are now favored by tech-savvy consumers worldwide, reshaping the smartphone landscape with their unique features and garnering widespread attention and admiration in the era of innovation.
Honor is leading in Q3 with a 50% foldable market share
While numerous companies have ventured into the foldable smartphone arena, Samsung has consistently led the way globally. However, Chinese brands like Honor and Huawei have rapidly gained favor among consumers, particularly with their recent foldable smartphone launches in the Chinese market.
According to the latest data from Counterpoint, the third quarter in China saw the Honor Magic V2 emerge as the top-selling “large foldable” smartphone, closely followed by Huawei’s Mate X3 and Mate X5. With over 50% large foldable smartphone market share Honor is showing its strong presence in the Chinese market.
Honor’s Magic V2 has achieved impressive sales figures, totaling 8 million units. While their latest foldable phone Magic Vs2 stands out with its sleek design, dual screens with eye protection, and an impressively lightweight build, making it the world’s lightest foldable flagship by shedding 2 grams compared to its predecessor, the Honor Magic V2.
The global foldable smartphone market experienced a 10% year-over-year growth in Q2 2023, driven primarily by the Chinese market, which accounted for a 58.6% share. Chinese manufacturers are expanding their offerings globally, and Samsung’s recent launches further stimulate growth, leading to the era of mass-market foldable phones starting in 2024.
Zhao Ming, the CEO of Honor, foresees a shifting pattern of market dominance between Honor and its competitor, Huawei, in the Chinese foldable phone market, with alternating leadership becoming more common.
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(Via)
