Huawei has secured a foothold in the top 3 of the global foldable phone market for Q3 2024, according to a recent report by IDC. That’s a notable comeback for the Chinese tech giant, despite a lack of recent overseas launches in the foldable space.
Landing at 13.2% market share, Huawei’s performance hinges largely on its success within the domestic Chinese market. While the company hasn’t launched new foldable devices internationally for some time, its flagship offerings within China seem to have paid off.
Additionally, the company’s flagship, Mate XT (review), has captured significant consumer attention in the mainland. Huawei’s tri-fold phone is set to launch globally soon. This innovative device has already piqued the interest of international consumers and could drive sales in global markets.
Looking forward, industry experts believe Huawei could further solidify its position in the foldable market by Q1 2025. However, this is contingent on the success of new product launches.
Samsung is still in the lead
Meanwhile, Samsung reclaims the top spot in Q3 2024 with a dominant 51% market share. The South Korean tech giant’s success is attributed to the well-received Galaxy Z Fold 6 and Flip 6 handsets, which have regained market share lost to Huawei and Honor earlier this year.
Lenovo, with its Motorola brand, secures second place with a 15.1% market share. It’s impressive that Motorola has achieved such a significant share with a lineup focused solely on clamshell foldables. Rounding out the top 5 are Honor (7.6%) and Xiaomi (6.3%).
The global foldable market is experiencing significant growth, with IDC estimating a 22% increase this year – three times the growth rate of the regular smartphone market. The trend suggests a lucrative Q4 for the overseas foldable market, with all eyes on upcoming launches from players like Huawei.
(Source)
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