Market Share in One Year
Huawei 14%→35%
Samsung 58%→23%
First No.1 Overcoming US Sanctions
Chinese company Huawei surpassed Samsung Electronics in the first quarter to become the world's top seller of foldable smartphones, according to a report by Hong Kong's South China Morning Post (SCMP) on the 31st.
On February 26, visitors at the Mobile World Congress (MWC) 2024 held in Barcelona, Spain, are testing the Huawei Mate X5. [Photo by AP Yonhap News]
According to data from market research firm Counterpoint cited by SCMP, Huawei's share of global foldable smartphone shipments from January to March was 35%. This share more than doubled compared to 14% a year earlier. During the same period, Samsung Electronics' share plummeted from 58% to 23%.
This is the first time Huawei, which is on the US sanctions list, has taken the top spot in this segment.
The main driver behind the surge in Huawei's foldable phone shipments is its new 5th generation (5G) mobile communication models. A year ago, Huawei's foldable phone lineup only included 4G LTE models, but in the first quarter of this year, 5G models accounted for 84% of foldable phone shipments. The Mate X5 and Pocket 2 are representative models gaining popularity in China.
Huawei is likely to continue focusing on selling foldable phones with higher price points.
The popularity of foldable smartphones within China continues to rise.
Market research firm IDC reported in February that foldable phone shipments in China more than doubled from 3.2 million units in 2021 to 7.01 million units last year. IDC also announced last month that Huawei reclaimed the number one position in the Chinese smartphone market in the first quarter despite US sanctions.
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