Surpassing Samsung, Huawei leads the foldable screen smartphone market

Surpassing Samsung, Huawei has become the company dominating the foldable smartphone market in the second quarter of 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 suddenly changed hands. Samsung has been surpassed by another competitor and that name is Huawei.

Samsung loses foldable smartphone crown to Huawei for the first time

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

Huawei was the company with the highest sales growth, with a 229% growth compared to the same period last year. This helped the Chinese technology company become the market leader in the Asia- Pacific region and second in the Russian market (after Samsung). Overall, Huawei is now the global leader in the foldable smartphone segment.

This is quite surprising as Huawei is under a ban from the US government and is not allowed to buy new generation 5G chips from US companies, especially Qualcomm. However, Huawei has developed its own 5G chip for smartphones without depending on US technology, helping to improve its competitiveness in the global market.

While other companies have seen outstanding sales growth, Samsung has shown signs of "running out of steam" when it only recorded a 5% sales growth in the second quarter of 2024. However, the Korean technology company still holds the second position in the foldable smartphone market.

Besides Huawei and Samsung, Vivo, Honor and Motorola are also in the top 5 foldable smartphone brands with the largest sales in the world. Notably, Honor used to be a subsidiary of Huawei, but in 2020, Huawei was forced to sell Honor to another Chinese technology company to avoid being affected by the ban from the US government.

Most notable is Transsion, a little-known Chinese phone company, which had an impressive growth of up to 3,150% in the second quarter of 2024. This is a smartphone company founded in Hong Kong (China) and headquartered in Shenzhen. Transsion is not a new smartphone company, but has been established since 2006, selling smartphones under 7 different brands, most notably itel, Tecno and Infinix.

It wasn't until the second quarter of 2024 that Transsion began to launch its first foldable smartphone models. This helped the company achieve impressive growth and currently ranks 7th in the foldable smartphone market.

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