Huawei soared 54% while Samsung fell 33% in 2024 global foldable race

Counterpoint has published the 2024 global foldable market report, in which Huawei and Samsung have scored well. Both companies claimed a spot in the top three rankers of the new listing. One of these saw a rise while the other fell significantly.

Huawei earned a bright spot in the 2024 global foldable race, but Samsung and OPPO showed weak performance. Motorola, Honor, Xiaomi, Vivo, and Google are other brands on the list.

Samsung grabbed the first spot in the report. Though it has declined to 33% compared to 2023. It is so as the company’s foldable phone sales dropped in Q4 last year. The Z folds seemingly failed to impress consumers due to high price.

On the other hand, Huawei ranked second but grew by 54% in the worldwide foldable battle for 2024. A major credit goes to the Mate X3 and Mate X6, which gained attention in the overseas market for innovative design and high-end features.

Huawei is seeing double-digit growth for 2024. The company has recently launched the Pura X foldable in China. If this incredible folding device goes global, it may further increase the OEM’s foothold in the worldwide folding phone sector.

Although Huawei hasn’t announced any such news yet.

Huawei soared 54% while Samsung fell 33% in 2024 global foldable race (Image Credits: Counterpoint)

Motorola is the third ranker in the latest foldable listing with the highest annual growth rate of 253%. Fourth is Honor, with 106% YoY growth, and Xiaomi has reached 108% year-on-year for booming sales of Mix Fold devices.

Vivo captured 23% YoY hike, while OPPO fell by 72% as it cut production of low-priced vertical foldable phones. This step has affected its overall market performance.

Senior Analyst at Counterpoint, Jene Park, said:

“I don’t see many positives this year, and we’re actually expecting negative growth for the segment, which will be a first. But it is definitely not a sign of the market peaking, rather it is a sign of regrouping before 2026, which is expected to be exciting and rejuvenating for the segment with the entry of Apple and a slew of clamshells.”

|| source ||