Huawei beats Samsung to take the top spot in global foldable smartphone shipments

• Huawei has emerged as the top company in foldable smartphone shipments in Q1 2024.
• Samsung has been dethroned for the first time since the launch of its first foldable smartphone.
• There was a 49% year-on-year growth in foldable smartphone shipments in Q1 2024.

Huawei has emerged as the top company when it comes to global foldable smartphone shipments in Q1 2024, beating Samsung, which had been ruling the market since the launch of its first foldable smartphone.

According to a report by Counterpoint Research, there was a 49% year-on-year increase in shipments of foldable smartphones globally in Q1 2024, the highest increase recorded in six quarters. This increase was reportedly driven by an increase in shipments by Chinese OEMs.

Global foldable smartphone market share

Source: Counterpoint Research

Huawei takes the top spot for the first time

Huawei occupied the top spot in global foldable smartphone shipments for the first time, with its move to 5G support for foldables being credited as one of the reasons.

The company recorded a 257% year-on-year growth, increasing its market share from 14% in Q1 2023 to 35% in Q1 2024. Last year, the company only sold LTE foldables and in Q1 2024, 5G foldables accounted for 84% of its total foldable shipments.

The Huawei Mate X5 has emerged as one of the best-selling devices in China.

Honor and Motorola focus on the overseas market

Chinese smartphone maker Honor and Lenovo-owned Motorola focused on the overseas market to increase their share.

Honor, which has emerged as a key player in Western Europe, reported a 12500% increase in shipments outside China. The company’s market share increased from 3% in Q1 2023 to 12% in Q1 2024. Honor reported a 460% increase in shipments.

On the other hand, Motorola, which focused on North America increased its market share to 11% in Q1 2024. The company reported a 1473% increase in shipments.

Samsung’s market share declines

Amid an increase in shipments of other companies, Korean smartphone maker Samsung reported a huge decline in its market share.

Samsung, which had a market share of 58% in Q1 2023 reported a market share of 23% in Q1 2024. It reported a 42% decline in shipments.

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