The foldable phone market might be experiencing a slight wobble, but Huawei isn’t letting that stop its momentum.
According to a recent report by Counterpoint Research, the Chinese tech giant saw a 23% year-over-year (YoY) jump in global foldable phone shipments during Q3 2024, even as the overall market declined by 1% compared to the same period last year.
The news comes amidst the recent launch of Huawei’s flagship Mate 70 series and Mate X6 foldable.
Huawei is second to Samsung now
The Chinese tech giant now holds 15% of the global foldable market share, a 2% increase from the same period last year.
The research firm attributes this growth largely to the continued success of the Mate X5 and Pocket 2 in China. These models have propelled Huawei’s foldable sales to new heights.
The company has also introduced some experimental foldable models in the Chinese market. The Nova Flip, for example, targets budget-conscious buyers seeking an affordable foldable option.
Additionally, Huawei is the only brand to release a tri-fold phone for mass. However, Counterpoint notes that these experimental devices have seen lower shipments than its more established models.
Lo and behold, Samsung remains the global leader in foldables, despite experiencing a 21% decline in Q3 shipments. Huawei, with its 23% growth, sits comfortably in second, followed by Honor with a substantial 121% YoY increase in sales. Rounding out the top four is Motorola, which also saw a significant rise of 164% YoY.
Among all competitors, Xiaomi achieved the highest YoY shipment growth (185%) due to the global launch of its first foldable, the Mix Flip.
While the global market for foldable phones experienced a slight setback in Q3, Huawei’s strategic approach and innovative offerings have positioned them for continued success in this growing space. As the year progresses, it will be interesting to see how the newly launched Mate X6 performs.
(Source)
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