Samsung loses lead in foldables market after 42% slump in sales

According to the latest analysis by Counterpoint Research, a total of 49% more smartphones with foldable displays were sold from January to March 2024 than in the same period last year. The only big loser in this segment is Samsung - the Galaxy Z Fold5 and the Galaxy Z Flip5 apparently simply did not offer enough in the way of innovation to persuade customers to upgrade, meaning that sales of Samsung's foldable division slumped by 42%.

As a result, Samsung's market share has fallen to 23%, while Huawei has taken the lead by a wide margin with an impressive growth of 257% and a market share of 35%. According to Counterpoint Research, there are two main reasons for this. Firstly, the Chinese market for foldable smartphones, where Samsung does not have such a large presence, has grown particularly strongly, and secondly, Huawei was finally able to launch a folding flagship with an integrated 5G modem in the Mate X5. The Huawei Pocket 2 is also expected to be very popular.

Former Huawei subsidiary Honor is in third place with growth of 460% and a market share of 12%, which is mainly due to the fact that Honor can now sell foldable smartphones in larger quantities outside of China. Motorola even recorded sales growth of 1,473%, putting it just behind Honor with a market share of 11%. 55% of all foldables sold are vertically folded devices in the style of the Galaxy Z Fold5.