Honor Takes on Samsung with New Foldable Technology

In a bold move to challenge industry giant Samsung, Honor has officially launched its Magic V5 foldable smartphone in Europe. Released on August 28, this innovative device is poised to shake up the foldable phone market, which has long been dominated by Samsung.

A Sleek Design Meets Cutting-Edge AI Features

This new overseas edition boasts an ultra-slim profile and incredible AI capabilities. Among its standout features is the industry’s first on-device large speech model, offering real-time call translation in multiple languages—Chinese, English, French, German, Italian, and Spanish. Honor presented these exciting features during a recent event, showcasing its commitment to seamless cross-device experiences.

A Shifting Landscape in the Foldable Phone Market

Historically, Samsung captured a whopping 98% of the European foldable phone market. However, recent statistics reveal a significant drop, with its share falling to 73% in 2023 and just 50% last year due to increasing competition from brands like Honor, Google’s Pixel Fold, and others. An analyst from Counterpoint noted Honor's impressive rise, indicating its market share surged to 34% last year, up from under 10% in 2023.

The Power of Chinese Innovation

China has solidified its status as a powerhouse in the smart hardware supply chain, featuring key players like BOE Technology and Seed Semiconductor. These advancements have laid the groundwork for Honor and its competitors, allowing China to become the largest foldable smartphone market globally. According to the International Data Corporation, shipments of foldable smartphones from China increased by 13% in the first half of the year, reaching nearly 5 million units.

A Competitive Horizon Ahead

As the European market heats up, Samsung is not taking this challenge lightly. With the recent launch of the Galaxy Z Fold7, experts predict that Samsung is poised to regain ground and close the technology gap with newer entrants. Furthermore, the anticipated release of Apple's first foldable smartphone next year is set to intensify the competition even further.