Samsung’s long-standing leadership in the foldable phone market saw a decline in the second quarter of 2024. Despite US sanctions, Huawei made a major comeback, overtaking Samsung and becoming the new leader of the foldable phone market.

Huawei overtakes Samsung in foldable phone market

Huawei achieved an impressive growth rate of 229% during this period, once ranking second but almost being wiped out by US sanctions. However, thanks to its strong performance, especially in the Asia Pacific region, Huawei has once again taken the top spot in the foldable phone segment.

On the other hand, things are not looking so bright for Samsung. The South Korean giant has fallen to second place with a low growth rate of 5%. Despite its strong position, especially in the North American market, the demand for foldable phones globally has not been enough for Samsung. The company’s newly released Galaxy Z Fold 6 and Flip 6 models do not seem to have received the expected attention.

However, it is not just Huawei and Samsung, other players are also rapidly rising in the foldable race. Transsion Holdings attracted attention with an incredible growth rate of 3150%, while Honor came in second with a growth of 423%. Vivo, on the other hand, experienced a small loss in market share despite its growth of 83%.

Huawei has taken the lead, especially in the book-style foldable phone segment, while Samsung has triumphed in shipping the most “flip” model phones. Looking ahead, it is a matter of great curiosity whether Samsung can regain this market leadership.

Huawei’s impressive comeback has changed the balance in the sector. What strategy Samsung will follow in the competition and what steps it will take in this war will become clearer in the coming quarters.