Honor storms Europe as Samsung’s foldable smartphone reign crumbles

The European foldable smartphone market is heating up, and Samsung’s once untouchable position is no longer what it used to be. According to Counterpoint Research, foldable shipments in Europe jumped 37% in 2024 compared to 2023. That sounds huge, but it’s worth noting that foldables still make up only about 2% of the overall smartphone market.

Most of this growth is coming from book-style foldables rather than flip-style models. In fact, book-style devices saw a massive 60% increase year-on-year, though they still account for just 1% of total phone sales in Europe. It’s a niche, but it’s a fast-growing one.

Samsung used to dominate this space completely. Back in 2022, it controlled an incredible 98% of the European foldable market. But things have changed quickly.

By the end of 2023, its share had dropped to 73% as brands like Honor, Google, OnePlus, and Tecno joined the fight. And in 2024, that share fell even further to just 50%.

What’s surprising is that Samsung’s sales still grew by 10% last year — it’s just that the competition grew faster.

Honor was the biggest disruptor, jumping to second place with 34% of the market after an eye-popping 377% year-on-year growth. Google claimed third with 9% and a 72% boost, Oppo took 4% with 10% growth, and Tecno grabbed 2% after an 88% rise.

Honor’s momentum doesn’t look like it’s slowing down either. The Honor Magic V5 is launching in Europe this month, setting up another head-to-head battle with Samsung’s Galaxy Z Fold7, which is said to be more competitive this year.

Meanwhile, Google’s Pixel 10 Pro Fold is due in October, and Apple’s first folding iPhone is now rumored for late 2026.

Counterpoint expects foldables to take a much bigger slice of the premium phone segment from next year. In the first half of 2025, sales dipped because there weren’t many new models released, but the second half should see fresh launches pushing numbers back up.

According to market forecasts, the sales of foldable phones in Europe could hit 4 million units per year by 2028. This will be more than 2% of the total smartphone sales.

Foldable phones might attract buyers from the high-end market. Phones that cost more than $800 may lose some buyers to foldables. It could even grab up to 10% of sales. In markets like the UK or Germany, it could be higher.

If Honor keeps up its pace, Samsung might find itself in a very different position in just a few years.