SSNLF - After Apple Huawei Takes On Samsung In Race To Become World's Top Foldable Phone Maker: Report | Benzinga
In a significant market shift, China’s Huawei Technologies has outpaced Samsung (OTC:SSNLF) in global foldable smartphone shipments for Q1 2024, after turning the heat on Apple Inc. in the Chinese market.
What Happened: According to the latest report from Counterpoint Research, the global foldable smartphone market saw a 49% YoY increase in Q1 2024, marking the highest growth rate in six quarters.
The surge was primarily attributed to significant shipment increases by Chinese OEMs, with Huawei taking the lead for the first time.
Huawei’s shift to 5G in its foldable devices played a crucial role in its 257% year-on-year growth during this quarter. The company’s 5G-enabled foldables accounted for 84% of its total foldable shipments by Q1 2024, up from a portfolio solely consisting of 4G LTE devices a year ago.
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