Huawei enters top 3 ranking in global foldable market Q3 2024

Huawei enters the top 3 ranking list for the global foldable market in Q3 2024. The company has secured the third spot for its flagship dual-folding devices. The upcoming products may further increase the OEM’s share in the particular field.

IDC recently shared a brief view of global foldable market growth in Q3 2024. The report shows regional folding phone shipments and market share comparisons between tech vendors over the past quarters since 2021.

Among the top rankers, Huawei came third in the global foldable race for Q3 2024. The company obtained 13.2% of the market share and performed well this year.

The tech giant has not launched new folding devices in the overseas market for a long time. However, it has gained a significant position in the current listing.

Meanwhile, the Mate XT tri-fold’s global launch has increased excitement among consumers. The world’s first triple folding handset has come as magic in the foldable sector and many people are waiting to experience this ultimate invention.

With new foldable phones, Huawei may gain even better positions and market share by the first quarter of 2025. Although we have to wait for a reality check.

Q3 2024 global foldable market report (Image Credits: IDC)

The limelight of this Q3 2024 global foldable ranking is Samsung. The firm has regained its market share in the overseas folding phone sector and grabbed the first spot with a 51% market share – thanks to Galaxy Z Fold 6 and Flip 6 handsets.

Huawei and Honor snatched a noteworthy share segment from Samsung in the first half of this year. Now the South Korean tech giant is back on the top seat.

Lenovo follows in second place due to the elegant and good-looking folding phones of Motorola. It has captured 15.1% of the global market. The fourth rank goes to Honor for its Magic V3 and other folding devices. It owns 7.6% of the market share.

Xiaomi obtains the fifth spot with a 6.3% market share. IDC estimates 22% of the global foldable sector’s growth this year which will be 3x more than the regular smartphone market. Thus, the fourth quarter results for the overseas foldable market would be worth looking forward to.

Q3 2024 global foldable market report (Image Credits: IDC)