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Huawei captures the first spot in Q1 2024 global foldable market: TechInsights
Huawei has emerged as the leading brand in the Q1 2024 global foldable phone market race, as per a new report by TechInsights. The research firm has recently analyzed the growth aspects and success rate of folding gadgets across the world.
In the report, TechInsights mentioned that Huawei is doing quite well in the foldable subject and has captured the top spot in the Q1 2024 global foldable market.
A major credit in the latest achievement goes to the book-style foldable phone – Huawei Mate X5. With better upgrades and advanced features like NearLink and Satellite Communication, the device rules over every heart worldwide.
Huawei also achieved a growth rate of 257% YoY under the folding phone segment within the first three months of this year. Meanwhile, we could expect a hike in this progress with the introduction of the world’s first triple-foldable smartphone.
Even though the OEM has not announced any details about its mysterious tri-fold handset, some previous inputs revealed that it may launch by June this year.
Huawei Mate X5 (Image Credits: Huawei)
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Further inputs show Samsung in second place. Analysts say that the overall sales performance of Galaxy folds remained sluggish in the first quarter of this year. Yet, the company maintained its lead in the market due to its flip-flop models.
Honor is also growing at a good pace in the market and obtained the third rank. Lenovo and Motorola brands are also taking small steps and have seen a surprising growth in the foldable phone market. ZTE falls in the new category in Japan.
TechInsights notes that the book-format foldable has covered the majority of the market space. Up to this point, the respective category has the strongest YoY growth rate and this mainly became possible due to Chinese customers’ interest in such handsets.
Q1 2024 global foldable market report (Image Credits: TechInsights)
|| Source – TechInsights ||
