Foldable phones are set to break historical records, with the race between Huawei and Samsung heating up. But why did they jump into this race? Huawei and Samsung’s strategic moves indicate that foldable phones will see an explosion in 2024, setting new records. Currently, Huawei and Samsung dominate this market, with Apple noticeably absent. So, who will win this race? Huawei or Samsung?
Huawei and Samsung to Break Records in Foldable Smartphones in 2024
Huawei Takes the Lead: In the first quarter of 2024, Huawei claimed 55% of the foldable screen market share, taking the lead. With their successful Mate X5 and Pocket 2 models, Huawei has become a significant player in this field. However, Samsung is not staying silent. The new Galaxy Z Fold6 and Galaxy Z Flip6 models are set to debut in the second quarter, aiming to set a new record with 9.25 million units in the foldable screen market.
Market Dynamics: According to analysts from Display Supply Chain Consultants (DSCC), Huawei surpassed Samsung Display in foldable screen production in late 2023 and early 2024. However, Samsung plans to reclaim the lead with large orders for its new Galaxy Z models. By the end of the year, Samsung Display’s market share is expected to drop to 54%, while Huawei’s is projected to rise to 28%.
Future Projections: Analysts predict that by the end of 2024, Samsung’s market share will fall to 48%, while Huawei’s will increase to 28%. Honor is also expected to see a slight increase, from 9% to 10%. The foldable phone market is poised for record growth and intense competition in 2024.
Growing Popularity: The popularity of foldable phones is growing daily, and tech giants are fiercely competing in this market. Will Huawei or Samsung emerge as the leader? Or will another brand surprise us by taking the lead? One thing is certain: this competition means more choices and innovations for consumers.
Conclusion
Who do you think will win this fierce competition? Will foldable phones become the standard in the future? Share your thoughts in the comments below!
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