On February 21, market research firm TechInsights reported that in Q4 2024, global foldable smartphone shipments reached 3.8 million units, marking an 18% year-over-year decline. Huawei claimed the top spot with a 31.2% market share, surpassing Samsung’s 26.7%. Honor secured third place with a 14.3% share, while Motorola maintained fourth place with 9.0%, thanks to the success of its Razr series.
Flip-Style Foldables: Samsung Leads, Huawei Gains Ground
In the flip-style foldable market, Samsung maintained its lead with a 31.4% market share, driven by the success of the Galaxy Z Flip 6, launched in Q3 2024. Huawei, with its Pocket 2 and Nova Flip models, captured a 23.4% share. Motorola’s Razr lineup saw a slight decline compared to last year but still held 20.9%. Xiaomi and Honor, both new entrants in 2024, secured 9.2% and 6.2% market shares, respectively. TechInsights also noted that companies like Transsion, Black Shark, and ZTE are making progress, though ZTE has yet to achieve significant success.
Book-Style Foldables See Major Decline
In the book-style foldable category, Samsung’s Galaxy Fold series and Huawei’s Mate X series remained popular. However, with flip-style foldables now accounting for 54.1% of the market, book-style foldable shipments saw a sharp 28.6% year-over-year decline in Q4 2024. TechInsights pointed out that even in China, interest in this segment appears to be cooling.
Brand Breakdown: Huawei Still on Top Despite Decline
• Huawei: Despite a 24.7% YoY drop in shipments, Huawei led the market with a 34.2% share.
• Samsung: Ranked second with a 24.4% share, down 4% YoY.
• Honor: Thanks to the success of the Magic V3, Honor claimed 21% of the market, emerging as a rising star.
• Vivo: With the X Fold 3 and 3 Pro, Vivo secured 13.4%, up 24% YoY.
• Google: The Pixel 9 Pro Fold took 2.4%, placing fifth.
• Xiaomi: Primarily serving the Chinese market, Xiaomi held 1.5%.
TechInsights highlighted that OPPO’s aging product lineup has led to a market share decline, while OnePlus slightly mitigated its shipment drop with a new model launched in August 2024.
A notable mention was Huawei’s Mate X T Ultra, the world’s first tri-fold smartphone, which TechInsights believes represents a potential future trend.
Regional Market Insights
• Asia-Pacific: Shipments declined 15.2%, but the region still accounted for 73% of global foldable sales. Huawei dominated with a 42.5% market share, followed by Honor, Samsung, Vivo, and Xiaomi.
• North America: Shipments fell 30.9%, but Google’s Pixel 9 Pro Fold saw significant growth.
• Western Europe: Economic challenges hit the market hard, with Samsung’s shipments plummeting 48.7%.
• Central & Eastern Europe: Despite a small market base, shipments surged 67% YoY.
• Latin America, Middle East, and Africa: Samsung remained the top supplier, but Motorola is gradually expanding its presence.
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