Market research company Counterpoint recently published the global foldable smartphone shipment tracker for Q1 2024 which yielded a surprising development. Overall, the foldable smartphone market was dominated by HUAWEI with 35% of the market share.
That’s a whopping 257% increase in year-on-year shipment changes compared to Q1 2023, in which HUAWEI only had 14% of the market. This corresponds with the company’s release of the Mate X5 and jumping to 5G connectivity on its foldable devices.
Amazingly, the 257% increase is actually the 3rd highest increase after HONOR, which had an astounding 460% increase from Q1 2023 and Motorola with an incredible 1473% increase. For reference, HONOR has the 3rd most market share in the foldable smartphone market with 12% and Motorola 4th with 11%.
In 2nd place is Samsung with a 23% market share, a 42% drop from Q1 2023. Overall, foldable smartphones saw a 49% year-on-year increase from Q1 2023, which shows the potential of the market.
So, what do you guys think of the changes in the foldable smartphone market? Share your thoughts with us in the comments below and stay tuned to TechNave for more trending tech news.
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