CHART: Global Foldable Smartphone Shipments in Q1 2024
A major factor behind Huawei’s growth was its shift to 5G in foldable devices.
- The foldable phone market exploded with a record 49% YoY growth in Q1 2024.
- Huawei dethroned Samsung as the leading foldable phone shipper globally.
- Book-type foldables surpassed clamshells for the first time due to new models from Chinese OEMs
The global foldable phone market is unfolding in unexpected ways. In Q1 2024, we saw a dramatic shift with a record 49% year-over-year growth in shipments, its highest rate of increase in six quarters, according to Counterpoint Research.
A wave of Chinese Original Equipment Manufacturers (OEMs) propelled the foldable phone market to a 49% YoY growth in Q1 2024, with Chinese tech giant, Huawei dethroning Samsung as the leading global shipper after experiencing a 257% year-over-year growth.
A major factor behind Huawei’s growth was its shift to 5G in foldable devices. While Huawei's foldable portfolio was exclusively LTE a year ago, by Q1 2024, 84% of its foldable shipments were 5G-enabled. This, combined with the runaway success of its first 5G foldable, the Mate X5, launched it to the top of the foldable game. It even doubled down in March with the Pocket 2, its first 5G clamshell, significantly boosting Q1 shipments.
