Since the debut of foldables in 2019, Samsung has been often the top brand for that segment in terms of market shipments. However, things went for a different direction for the first quarter of 2024, as Counterpoint reports that Huawei has officially overtaken Samsung for the foldable market.

In its report, Counterpoint said that Huawei experienced a 257% growth in the global foldable market share in 2024 when compared to their figures in 2023–in which Samsung was dominant back then with 58% of the market share. Aside from Huawei’s rise in the foldable segment, HONOR and Motorola also grew their market share in the said segment by 460% and 1473% respectively.

Considering that the 5G-ready Mate X5 and Pocket 2 are exclusive to China, Huawei’s approach of focusing first with its local market helped leverage its dominance in the foldable market to steal Samsung’s crown. HONOR and Motorola, on the other hand, increased their market share with the wider availability of its foldable phones globally. HONOR, for their part, is one of the few brands in the Philippines that sells a foldable with the Magic V2, which arrived in the country with an attractive Php 80k price tag. 

While book-type foldables have been on the rise, Counterpoint points out that clamshell foldables (or flip phones) are expected to be in high demand, especially with the likes of TECNO offering their Phantom V Flip at a very accessible price point. Aside from Samsung, Huawei, OPPO, and TECNO, Counterpoint said that HONOR and Xiaomi are expected to unveil their own flip phones later this year.