Foldable smartphone shipments soared by 49% year-over-year in the first quarter of 2024, according to a Counterpoint Research report.
This surge was driven by a substantial increase from Chinese smartphone manufacturers, notably Huawei, which overtook Samsung to lead the global quarterly shipment rankings.
Huawei saw a staggering 257% increase in foldable phone shipments. Counterpoint attributes this to the company's transition to 5G, with its Mate X5 foldable phone becoming a best-seller in China for three consecutive quarters.
The launch of the Pocket 2 flip foldable further boosted Huawei's shipments in the first quarter.
Honor also made significant gains, with its global foldable market share jumping from 3% a year ago to 12% in Q1 2024, a 460% increase. This made it the third-largest foldable phone vendor globally.
Honor's success was largely due to the Magic V2, the world's thinnest foldable phone, which saw strong sales in overseas markets, particularly in Western Europe.
Motorola also increased its global market share to 11%, ranking fourth, driven by the popularity of its Razr 40 (or Razr 2023) in North America.
Here's a table with detailed data:
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