Foldable Phone Sales Dip: Huawei Rises, Honor Soars

According to Counterpoint Research's latest market tracking report, in the third quarter of 2024, the global foldable screen smartphone market experienced its first historical decline, with shipments decreasing by 1% year-on-year.

Samsung ranks first with a market share of 56%. However, its shipment volume decreased by 21% year-on-year, mainly due to the market performance of the new Galaxy Z6 series not meeting expectations. Among them, the sales of Galaxy Z Fold 6 and Galaxy Z Flip 6 have not reached the level of their predecessors, especially in the Chinese market where Samsung's share is only 8%.

At the same time, brands such as Motorola and Honor have emerged in the foldable phone market. Motorola's affordable Razr series foldable phones have gained popularity among consumers in the North American market. The Magic V series of Honor, with its stylish appearance and lightweight body, has formed strong competition with Samsung in the Western European market.

Huawei has also maintained sustained growth in the foldable phone market, with the Mate X5 and Pocket 2 performing well in the Chinese market. Despite relatively flat shipments of the new models Nova Flip and Mate XT, Huawei expects the upcoming release of the Mate X6 to further boost its market share.

Xiaomi, as an emerging force in the foldable screen market, achieved a year-on-year growth of up to 185% this quarter. The launch of Xiaomi Mix Flip and its active expansion strategy into overseas markets have laid a solid foundation for its rapid growth in the foldable screen market. Currently, Xiaomi's global market share has risen to a historic high of 6%.

A senior analyst at Counterpoint pointed out that the global foldable phone market is facing the challenge of transitioning from a niche market to a mainstream market. Although users are highly satisfied with large foldable screen devices, the high price remains the biggest obstacle to their popularity.