According to a recent report from Counterpoint Research, sales of book-style foldable phones in the region will surge 60% year-on-year in 2024, with annual shipments increasing by 37%. Chinese brand Honor is the biggest surprise, with an astonishing 377% growth rate. Its market share will surge from less than 10% to 34%, completely breaking Samsung's long-held monopoly.
This dramatic shift in the market landscape stems from a multi-brand technological competition. Samsung held a 98% market share in 2022, but with the influx of new products like the Honor Magic V2/V3 and the Google Pixel Fold, its share has fallen to 73% by the end of 2023. Honor's innovative features, including a 4.1mm ultra-thin body, a large 5820mAh battery, and IP59 dust and water resistance, have successfully attracted high-end users. Samsung's urgently launched Galaxy Z Fold7, while reclaiming the title of "thinnest and lightest" at 4.2mm, still lags behind the Honor Magic V5 in battery capacity and charging speed.
This technological competition is driving the penetration of foldable phones into the mainstream market. Although this category currently accounts for only 2% of total smartphone sales in Europe, news of Apple's planned entry in 2026 has significantly boosted industry confidence. Analysts point out that as more manufacturers join the competition, foldable phones will accelerate their breakthrough into the ultra-high-end market, and the "ultra-thin war" between Honor and Samsung has already ignited the fuse of this transformation.
