Huawei has made a strong entry into the top three of the worldwide foldable phone market for the third quarter of 2024, as per a fresh report from IDC. This marks a remarkable resurgence for the Chinese technology leader, even with no recent international releases in the foldable category.
Market Performance
With a market share of 13.2%, Huawei’s success is mainly tied to its achievements in the Chinese market. Although the brand has not introduced new foldable devices globally in a while, its premier products in China appear to have made a significant impact.
Global Launch on the Horizon
Furthermore, Huawei’s flagship device, the Mate XT (review), has garnered considerable attention among consumers in mainland China. This tri-fold phone is expected to launch worldwide shortly. Its innovative design has already attracted interest from international buyers and could enhance sales in global markets.
Future Prospects
Looking ahead, experts in the industry think that Huawei has the potential to strengthen its position in the foldable market by the first quarter of 2025. However, this progress relies heavily on the success of upcoming product releases.
Samsung is still in the lead
On the other hand, Samsung has reclaimed the top position in Q3 2024, boasting a commanding 51% market share. The success of the South Korean tech giant is linked to the popular Galaxy Z Fold 6 and Flip 6 models, which have regained market ground that was lost to Huawei and Honor earlier this year.
Lenovo's Stronghold
Lenovo, through its Motorola brand, takes second place with a 15.1% market share. It’s quite impressive that Motorola has managed to achieve such a considerable share with a product range that focuses exclusively on clamshell foldables. Completing the top five are Honor (7.6%) and Xiaomi (6.3%).
Market Expansion
The global foldable market is witnessing significant growth, with IDC predicting a 22% increase this year—three times the growth rate of the standard smartphone market. This trend hints at a profitable fourth quarter for the international foldable sector, with anticipation building for upcoming launches from companies like Huawei.
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