Samsung was the first to introduce the foldable phone, revolutionizing the smartphone industry and inviting others to opt for the same category. Although it pioneered and initially remained a leader in the market, the South Korean tech giant's position was shaken as the competition got more fierce. The company made some massive changes with the Galaxy Z Fold 6 and considered it to be the savior.
However, it was still not enough to save it from the growing competition where Honor seems to be the talk of the town, especially with its Magic V3 coming out tomorrow. Now, a new report reveals that Honor beat Samsung's sales even before the launch of its thinnest foldable.
Honor has managed to surpass Samsung sales for the foldable phone in the second-largest global market, and this is even before it is officially unveiled
After Samsung's Galaxy Z Fold 6 could not create as big an impact as it intended, the company started working on a Galaxy Z Fold Special Edition that was meant to take on the competition by being a slimmer version of the original model and with some promising camera updates. Although the variant is to come out this month, from the recent report, we see that the Magic V3 has already cast its spell even before it has come out.
According to Counterpoint Research, Honor has managed to take the lead and beat Samsung for the European market, which is the second largest global market for the category, with its thinnest foldable phone before it is officially released tomorrow at the IFA 2024 expo. Standing at 9.2mm, the Magic V3 currently holds the record for the thinnest foldable phone and is slimmer than the Z Fold special edition, taking on the variant in terms of specifications and price.
The research further reveals how Samsung does not face the challenge of sustaining itself in only Europe with the release of the Magic V3 right around the corner, but the struggle seems to extend to China as well, where Huawei and other local brands have taken the lead. To explain how aggressively Honor is growing in the market, it shared:
HONOR aggressively expanded into the European and Asia Pacific markets, driving a 455% YoY increase in its global foldable shipments in Q2 2024, the largest YoY growth among all brands. HONOR targeted markets outside China with its ultraslim Magic V2, which is less than 10mm thick when folded. In Q2 2024, the HONOR Magic V2 was the most-shipped book-type foldable across all regions, excluding China, where Huawei dominates.
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