Huawei to claim 20% global foldable phones share this year: Report
Huawei continues to launch new foldable phones in the market and the research firm says that the company will surpass 20% shares in the industry globally this year.
Market researcher, Trendforce notes that Huawei achieved a market share of around 10% for the foldable phones segment in 2022. The company made this possible with the launch of Huawei Mate Xs 2 side folding and Pocket S flip fold devices in the same year.
The researcher says Huawei will claim global market share in the foldable phone by up to 20%. Huawei recently announced the Mate X3 smartphone and preparing to unveil more in the second half of this year.
It uses two screens, one on the cover and the second inside. This is the lightest and slimmest foldable phone on the planet, weighing only 239 grams. This model is causing huge attraction among consumers despite its high price.
Other Chinese brands hold around 3 – 5% market share in the foldable smartphone sector. If they can extend their foldable devices into global channels, their sales volumes are expected to rise even further.
Samsung currently rules over the world of foldable phones with over 70% market share. The shipment of the past year dominates over 13 million units worldwide. This is a massive sales target for the South Korean company.
TrendForce estimates that shipments of foldable smartphones will reach 19.8 million units in 2023, marking an impressive YoY growth rate of 55% compared to 12.8 million units last year.
It is mentioned that the high price is relatively a large barrier for foldable devices to make a place among consumers in comparison to traditional smartphones. However, the growth is steady in the future.
However, Huawei acquiring 20% of the overall foldable phones users, would be good aim to achieve this year.