Surpassing Samsung, Huawei leads the foldable screen smartphone market

Surpassing Samsung, Huawei has become the dominant company in the foldable smartphone market in Q2 2024.

Since launching its first foldable smartphone in early 2019, Samsung has consistently led sales in this segment for five years, despite fierce competition from rivals.

However, recently, the "throne" in the foldable smartphone segment has unexpectedly changed hands. Samsung has been overtaken by another competitor, and that name is Huawei.

Samsung has lost its foldable smartphone crown to Huawei for the first time.

According to a report by market research firm TechInsights, foldable smartphone sales increased by 85% in the second quarter of 2024 compared to the same period last year. Asia- Pacific was the fastest-growing region, with sales increasing by 106% year-on-year.

Huawei saw the highest sales growth, with a 229% increase compared to the same period last year. This helped the Chinese technology company lead the market in the Asia- Pacific region and rank second in the Russian market (only behind Samsung). Overall, Huawei is currently the global leader in the foldable smartphone segment.

This is quite surprising, given that Huawei is under sanctions from the US government and is not allowed to purchase next-generation 5G chips from American companies, especially Qualcomm. However, Huawei has developed its own 5G chips for smartphones without relying on American technology, enhancing its competitiveness in the global market.

While other companies experienced outstanding sales growth, Samsung showed signs of slowing down, recording only a 5% increase in sales in Q2 2024. Nevertheless, the South Korean tech giant still holds the second position in the foldable smartphone market.

Besides Huawei and Samsung, Vivo, Honor, and Motorola are among the top 5 brands of foldable smartphones with the highest sales worldwide. Notably, Honor was once a subsidiary of Huawei, but in 2020, Huawei was forced to sell Honor to another Chinese technology company to avoid being affected by the US government's ban.

Most notably, Transsion, a relatively unknown phone manufacturer from China, achieved an impressive growth rate of 3,150% in the second quarter of 2024. Founded in Hong Kong and headquartered in Shenzhen, Transsion is not a new smartphone brand; it was established in 2006 and sells smartphones under seven different brands, most notably itel, Tecno, and Infinix.

Transsion didn't begin launching its first foldable smartphones until Q2 2024. This helped the company achieve impressive growth and it currently ranks 7th in the foldable smartphone market.

Source: https://baoquocte.vn/vuot-mat-samsung-huawei-dan-dau-thi-market-smartphone-man-hinh-gap-284980.html