The European foldable smartphone market is gaining momentum, with shipments climbing 37% in 2024 compared to the previous year, according to Counterpoint Research. 
Despite the surge, foldables still account for only about 2% of all smartphones sold in the region.
Book-style foldables, rather than the smaller flip models, are driving this growth. Sales of book-style devices jumped 60% year-on-year in 2024, though they still make up just 1% of the overall smartphone market.
Competition has intensified dramatically. In 2022, Samsung commanded a staggering 98% of Europe’s foldable market, but by 2023 its share slipped to 73% as rivals like Honor, Google, OnePlus, and Tecno joined the fray. This year the trend continued: Samsung’s share fell to 50%-despite a 10% rise in sales-while Honor rocketed to 34% with an impressive 377% YoY growth. Google took third place at 9% (up 72%), Oppo held 4% (up 10%), and Tecno claimed 2% after an 88% boost.
The battle is far from over. Samsung’s newly improved Galaxy Z Fold7 faces stiff competition from the soon-to-arrive Honor Magic V5 in Europe. Google’s Pixel 10 Pro Fold is expected in October, and the market is abuzz with rumors of Apple’s first folding iPhone debuting in late 2026.
Counterpoint forecasts that foldables will claim a growing slice of the premium segment starting next year. While sales dipped in early 2024 due to a lack of launches, the second half of the year should bring fresh momentum. By 2028, annual foldable sales in Europe could hit nearly 4 million units, finally breaking past 2% of total smartphone sales. In the $800+ premium bracket, foldables could represent almost 10% of sales-possibly more in markets like the UK and Germany.