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Surprising Shift: Meet the New Leading Foldable Manufacturer in Q1!

In the realm of foldable phones, Samsung has long been a dominant force since the inception of the modern foldable era in 2019 with the Galaxy Fold. The release of the Galaxy Z Flip clamshell in the following year only solidified Samsung’s position as a top player in the industry. Year after year, Samsung consistently sat at the pinnacle as the leading foldable phone manufacturer globally.

However, a shift occurred in the first quarter of 2024 as Huawei emerged as the new leader in the global foldables market. Despite facing challenges due to U.S. sanctions restricting access to 5G chips, Huawei saw a remarkable 257% year-over-year increase in Q1 global foldable shipments. With access to 5G chips from China’s largest foundry SMIC, Huawei now boasts an impressive lineup with 84% of its foldable phones supporting 5G connectivity.

The introduction of Huawei’s first 5G inward folding book-style foldable, the Mate X5, further propelled their success and has become one of the top-selling foldables in China. This shift marked a significant milestone for Huawei, catapulting them to a leading position with a 35% share of the global foldable market in Q1.

Meanwhile, Samsung experienced a decline in global shipments on an annual basis during Q1, with a notable drop of 42% worldwide. One contributing factor to this decline was a shift where book-style foldables surpassed clamshells in unit shipments for the first time since 2021.

Honor also made significant strides in the foldables market with a remarkable 460% increase in shipments from Q1 2023 to Q1 2024. The Honor Magic V2 emerged as a popular choice and was notably the most shipped foldable phone in Western Europe during Q1.

Motorola witnessed substantial growth with a staggering 1473% year-over-year increase in foldable shipments globally, securing an 11% market share. The Razr (2023) model gained traction especially in North America during this period.

Looking ahead, industry experts anticipate that Samsung will make a comeback with upcoming releases like the Galaxy Z Flip 6 set to be unveiled in July. Additionally, new models from Huawei are expected to revive clamshell foldables with more affordable options entering the market soon.

Amidst these developments and shifting dynamics within the foldables market, Huawei’s rise signals an exciting chapter for innovation and competition within this rapidly evolving industry landscape.

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