Huawei has overtaken Samsung in the foldable phone market, underscoring the need for more innovative and competitive devices.
Samsung, which had dominated the foldable phone market for many years, has now been overtaken by Huawei. This shift is primarily due to increasing competition and the fact that Samsung’s Galaxy foldable devices have lagged in innovation.
Market Share Shifts
In the first quarter of 2023, Samsung held 60% of the global foldable phone market, while Huawei had a 14% market share. However, according to a recent report by Counterpoint Research, Samsung’s market share has plummeted to 23%, whereas Huawei has surged to 35%, becoming the new leader in the foldable phone market. This change comes amid a 50% growth in the foldable phone market.
New Market Players: Motorola and Honor
Motorola and Honor have rapidly increased their presence in the foldable phone market. Motorola now holds 11% of the market, and Honor has captured 12%. This success is attributed to innovative models like Motorola’s Razr+ and Honor’s Magic V2.
Samsung’s Position
Samsung’s latest models, the Galaxy Fold 5 and Flip 5, offered only minor upgrades over their predecessors. The Flip 5’s larger cover screen was one of the few notable changes. Meanwhile, competitors like Motorola, Honor, Google, and Oppo/OnePlus have introduced more innovative hardware and software features, outpacing Samsung in technological advancements.
Popularity of Foldable Devices
In the first quarter of 2024, foldable devices were the most popular form factor. Devices such as the Galaxy Z Fold 5, Pixel Fold, and OnePlus Open accounted for 55% of shipments, with clamshell devices comprising the rest of the market.
These developments indicate that Samsung needs to innovate more aggressively and offer competitive products to reclaim its leadership in the foldable phone market.
