According to the latest IDC report, Huawei proved that it is in the top three in the global foldable phone market in the third quarter of 2024. This is a remarkable turnaround for the Chinese tech giant, despite the lack of recent overseas launches in the complex space.

Huawei’s business, which holds 13.2% of the market, largely depends on its success in the Chinese domestic market. While the company hasn’t launched any new advanced devices internationally in a while, its flagship offerings in China seem to have paid off.

Additionally, the company’s flagship Mate XT has attracted great attention from mainland consumers. Huawei’s triplex phone is planned to be released worldwide soon. This innovative device has already attracted the attention of international consumers and could increase sales in global markets.

Looking ahead, industry experts believe that Huawei can further strengthen its position in the advanced device market by the first quarter of 2025. However, this depends on the success of new product launches.

Samsung is still the leader

Meanwhile, Samsung returned to the top with a dominant market share of 51% in the third quarter of 2024. The South Korean tech giant’s success is due to its well-received Galaxy Z Fold 6 and Flip 6 phones, which regained the market share it lost to Huawei and Honor earlier this year.

Lenovo ranks second with its Motorola brand with 15.1% market share. It is impressive that Motorola has achieved such a significant share with a product range that focuses only on clamshell models. Honor (7.6%) and Xiaomi (6.3%) close the top 5.

The global foldable phone market is experiencing significant growth; IDC forecasts 22% growth this year; This is three times the growth rate of the traditional smartphone market. The trend predicts a profitable fourth quarter for the overseas foldable market, with all eyes focused on the upcoming launches of players like Huawei.